Lawsuit Filed Against LJM Preservation and Growth Fund

Posted on March 7th, 2018 at 12:12 PM
Lawsuit Filed Against LJM Preservation and Growth Fund

From the Desk of Jim Eccleston at Eccleston Law LLC:

A lawsuit seeking class-action status has been filed in the U.S. District Court in Chicago against managers of U.S. mutual fund, LJM Preservation and Growth Fund (LJMAX).  LJMAX, once worth approximately $800 million, was founded by two former traders.

According to the complaint, investors lost four-fifths of the value of the fund in early February, as the Dow Jones industrial average dropped nearly 1,600 points.

According to the mutual fund, LJMAX relied heavily on a strategy that profited from calm markets. However, according to the complaint, the fund was not focused on capital preservation and exposed investors to an unacceptably high risk of catastrophic losses.  

Eccleston Law is investigating. Retail investors who bought LJMAX through a financial advisor may have grounds to recover their losses.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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