The plaintiff in a derivative action on behalf of the Infinity Q Diversified Alpha Fund has filed an amended complaint with new and extensive allegations regarding the fund’s collapse and the service providers responsible for the losses. The amended complaint includes further details regarding the flawed and deficient oversight of the fund’s valuation of derivative securities, which resulted in the manipulation and inflation of the fund’s reported assets by hundreds of millions of dollars. The misconduct was revealed by the SEC in early 2021, requiring the fund’s liquidation. The amended complaint names as defendants the fund’s auditor, the administrator and fund accountant, and the fund’s officers and directors.
The case is Rowan v. Infinity Q Capital Management, LLC, No. 2022-0176-MTZ (Del. Ch.). Morris Kandinov LLP represents the plaintiff. For more information about the case, contact Leo Kanidnov at firstname.lastname@example.org.