AlphaCentric Securities Litigation

The information contained on this web page is only a summary of information presented in more detail in the Notice of Proposed Class Action Settlement, which you can access by clicking here. Because this website is just a summary, you should review the Notice for additional details.

This Notice informs you of the proposed settlement (“Settlement”) of the above-captioned class action lawsuit (“Action”) and the hearing (“Settlement Hearing”) to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement, as set forth in the Settlement Agreement by and between Plaintiff and Class Representative Susan Koza (“Plaintiff”), on behalf of herself and the Settlement Class, and Defendants Mutual Fund Series Trust, AlphaCentric Advisors LLC, Northern Lights Distributors, LLC, Jerry Szilagyi, Tobias Caldwell, Tiberiu Weisz, Erik Naviloff, and Frederick Schmidt (collectively, “Defendants”).

The Court previously decided that this lawsuit will proceed collectively as a class action on behalf of a group of people and entities (“Class”), which could include you.  The Class consists of all persons and entities who purchased or otherwise acquired shares of the AlphaCentric Income Opportunities Fund from July 27, 2018, to March 22, 2020 (inclusive), subject to certain exclusions.

This Notice is intended to inform you how the Action and proposed Settlement may affect your rights and what steps you may take in relation to it.  This Notice is NOT an expression of any opinion by the Court as to the merits of the claims or defenses asserted in the Action or whether Defendants engaged in any wrongdoing.
If approved by the Court, the Settlement will provide twenty million dollars ($20,000,000) gross, plus interest as it accrues, minus any Court-awarded attorneys’ fees to Class Counsel, Court-awarded service award to Plaintiff, costs, administrative expenses, any other Court-approved payments or costs, and net of any taxes on interest, to pay claims of investors who purchased shares of the AlphaCentric Income Opportunities Fund from July 27, 2018 to March 22, 2020 (inclusive).

You are a member of the Class if you purchased or acquired Class A, Class C, or Class I shares of the AlphaCentric Income Opportunities Fund (ticker symbols IOFAX, IOFCX, or IOFIX, respectively) during the period from July 27, 2018 to March 22, 2020 (inclusive) pursuant to the Fund’s July 27, 2018 Registration Statement and/or other offering materials subsequently issued by the Fund during the Class Period.
Some people and entities are excluded from the Class by definition.  The excluded persons and entities are: Defendants; the past or present officers, directors, trustees, and affiliates of Defendants; the immediate family members, legal representatives, heirs, parents, subsidiaries, predecessors, successors, and assigns of any excluded person or entity; and any entity in which any excluded person or entity has or had a majority ownership interest, or that is or was controlled by any excluded person or entity.

Other people and entities can also choose to be excluded from the Class by validly requesting exclusion in accordance with the procedures set forth in the Notice.

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu of this page.

Payments to eligible claimants will be made only if the Court approves the Settlement and a Plan of Allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

Please read the Notice carefully. If you have questions, you may call the AlphaCentric Securities Litigation Help Line at 1-877-888-4851 or email info@AlphaCentricSecuritiesLitigation.com.