SEC Announces Settlement with Fund Manager
The Securities and Exchange Commission (SEC) recently announced that a Denver-based alternative fund manager has agreed to settle charge against it. The SEC had made allegations that the firm overcharged and misled investors regarding management fees and how the firm valued various assets.
According to the SEC, Equinox Fund Management LLC was calculating management fees in a manner that differed from the methods described to investors in a managed futures fund called the Frontier Fund (TFF).
As part of the settlement agreement, Equinox is to refund roughly $5.4 million to investors to cover the excessive management fees that the firm collected over 7 years. The firm was also assessed a $400,000 penalty and $600,000 in prejudgment interest.
If you lost money while with Equinox Fund Management LLC, contact Meyer Wilson today. Our securities fraud attorneys can help you recover the losses you’ve suffered. Schedule your free consultation to discuss your options with us and learn how we may be able to help you.