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an InvestmentWires' Publication
Thursday, July 1, 2010
Rydex Can't Change Class-Action Venues
A judge this week denied Rydex's request for a change of venue as the company prepares to defend itself against a suit for allegedly misleading investors in its Rydex Inverse Government Long Bond Strategy Fund.
Rydex stands accused of violating securities laws by disseminating prospectuses and other documents that contained allegedly false and misleading information about its Bond Strategy Fund. The mutual fund's performance was advertised as being inversely correlated to the price of the 30-year U.S. Treasury Bond .