Virtus Global Multi-Sector Income Fund
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Company profile

Virtus Global Multi-Sector Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to maximize current income while preserving capital. The Fund seeks to achieve its investment objective by applying an approach and credit research to capitalize on opportunities across undervalued areas of the global bond market. The Fund's portfolio includes sectors, such as consumer discretionary, energy, consumer staples, financials, healthcare, industrials, information technology, materials, real estate, telecommunication services and utilities. The Fund may invest in direct debt instruments, which are interests in amounts owed by a corporate, governmental, or other borrower to lenders or lending syndicates. The Fund may invest in obligations of borrowers in bankruptcy proceedings. Virtus Investment Advisers, Inc. serves as the Fund's investment advisor. Newfleet Asset Management, LLC serves as the Fund's sub-advisor.

Closing Price
$11.14
Day's Change
0.00 (0.00%)
Bid
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Ask
--
B/A Size
--
Day's High
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Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
45,719
0

ATTENTION HERTZ EMPLOYEES/INVESTORS: KlaymanToskes Commences Investigation into Damages Sustained in Hertz Stock held with Full-Service Brokerage Firms During Coronavirus Pandemic

1:12 pm ET May 6, 2020 (BusinessWire) Print

KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating damages sustained by current and former employees and investors of Hertz Global Holdings (NYSE:HTZ) ("Hertz") who held large, unhedged concentrated positions in Hertz stock and/or received margin calls resulting in the forced sale of stock. The recent losses were the result of unsuitable advice during the Coronavirus ("COVID-19") pandemic. The investigation focuses on full-service brokerage firms' negligence and failure to supervise the management of concentrated, leveraged positions in Hertz stock.

Investment portfolios holding large, concentrated stock positions carry significant downside risks, especially when leveraged by a margin loan. Full-service brokerage firms whose customers hold large concentrated stock positions have a duty to ensure that their customers understand the risks associated with concentration and to disclose and recommend the availability of risk management strategies. The failure to use risk management strategies as well as the failure to "hedge" the value of a concentrated portfolio directly exposes an investor's concentrated position to fluctuations in the volatile securities markets. Since trading as high as 20.85 per share in February 2020, the price of Hertz stock dropped to 2.80 on May 5, 2020, a decline of more than 86%. Hertz was granted forbearance from lenders until May 22, in an effort to stave off filing for bankruptcy.

The sole purpose of this release is to investigate whether strategies deployed by full-service brokerage firms were suitable for Hertz employees and investors with concentrated, leveraged stock positions. Hertz shareholders who held accounts at full-service brokerage firms, and have information relating to the manner in which the firm handled their concentrated, leveraged portfolios are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.

About KlaymanToskes

KT is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm represents high net-worth, ultra-high-net-worth, and institutional investors, such as non-profit organizations, unions, public and multi-employer pension funds. KT has office locations in California, Florida, New York, and Puerto Rico.

Destination: https://klaymantoskes.com/attention-hertz-employees-investors

View source version on businesswire.com: https://www.businesswire.com/news/home/20200506005817/en/

SOURCE: KlaymanToskes

KlaymanToskes
Lawrence L. Klayman, Esq., (561) 542-5131
lklayman@klaymantoskes.com 
www.klaymantoskes.com

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