The attorneys at Eccleston Law have launched an investigation of the Solaris Opportunity Fund, its investmetn advsior Solaris Management, LLC, and Patrick G. Rooney for the alleged misuse of the Solaris Fund's assets and other illegal conduct alleged in an SEC civil injunction action.
On November 22, 2011, the SEC filed a complaint alleging that the Solaris Fund, which is purported to be a non-diretional hedge fund with approximately 30 investors, made a radical change in direction in the fund's investment strategy by becoming wholly invested in Positron Corporation, a troubled microcap company which Patrick Rooney has been Chairman of since 2004. According to the SEC, Patrick Rooney allegedly misued the Solaris Fund investor moeny by investing over $3.6 million in Positron. The SEC further alleged that the investmetns benefited Positron and Patrick Rooney, while providing the Solaris Fund with a concentrated, undiversified, and illiquid position in a cash-poor company with a lengthy track record of losses.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by securities fraud, unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.
If you are an investor that has suffered losses investing with Solaris Opportunity Fund, Solaris Management, or Patrick G. Rooney, please contact one of our attorneys at 312-332-0000 to discuss your recovery options.
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