Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In The Wildermuth Fund To Contact Him Directly To Discuss Their Options
If suffered losses in The Wildermuth Fund and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK–(BUSINESS WIRE)–$WESFX #ClassAction—Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Wildermuth Fund (“Wildermuth Fund” or the “Company”) (NASDAQ: WESFX).
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
On June 29, 2023, the Fund announced that, based upon the recommendation of the Adviser, the Fund’s Board of Trustees had approved a plan of liquidation for the Fund (the “Liquidation Plan”). The Adviser Defendants reassured investors that there were no issues with the underlying investments held by the Fund and the Fund continued trading at or around a NAV of $10 per share. The reason for the liquidation stemmed from the loss of certain tax advantages.
On November 1, 2023, Daniel and Carol Wildermuth resigned from the Board and from their roles as officers of the Fund. Daniel Wildermuth further resigned as Chairman of the Board and the agreement with the Adviser was terminated. The Board replaced Wildermuth Advisory with BW Asset Management Ltd. (“BWAM”), a subsidiary of Kroll, as the Fund’s investment adviser.
Compared with reported values in March 2022, by October 2024, the value of the Fund’s investments had dropped by 63.6% and the NAV had declined by 73.7%. Compared to the values reported in March of 2023, by October 2024, the value of the Fund’s investments had dropped by 47.4% and the NAV had declined by 57.7%, in comparison to the March 2023 valuations. Finally, by 2024, Kroll revised its NAV to less than $2.00 per share, an 80% reduction in NAV per share.
To learn more about the Wildermuth Fund investigation, go to www.faruqilaw.com/WESFX or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Contacts
Faruqi & Faruqi, LLP
Josh Wilson
877-247-4292 or 212-983-9330 (Ext. 1310)
