FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Announces that Wildermuth Investors Have Opportunity to Lead Class Action Lawsuit
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 you suffered losses in The Wildermuth Fund between November 1, 2020 and June 29, 2023 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) and reminds investors of the December 29, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: Defendants violated the Securities Exchange Act of 1934 and the Investment Company Act of 1940, by (1) miscalculating the fair value of the Fund’s investments without sufficient, reliable evidence to support them; (2) failing to disclose that certain portfolio companies with questionable going concern value were being propped up with monthly cash infusions by the Fund; and (3) intentionally inflating the Fund’s net asset value, leading to the payment of excessive and unearned advisory fees to the Adviser, all of which damaged Class members.
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.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding the Wildermuth Fund’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Wildermuth Fund class action, 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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Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Contacts
Faruqi & Faruqi, LLP
Josh Wilson
877-247-4292 or 212-983-9330 (Ext. 1310)
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