Silver Law Group is currently investigating possible securities law violations and breaches of fiduciary duties against Ivy Asset Strategy Fund (WASAX) and Waddell & Reed Asset Strategy Fund (UNASX), both wholly-owned subsidiaries of Waddell & Reed Financial, Inc. (NYSE: WDR).
On May 15, 2014, Ryan C. Caldwell, a co-portfolio manager for both Funds, resigned. Since his resignation, the Ivy Asset Strategy Fund has fallen by more than 30% in value and has lost billions of dollars in assets. The fund is currently trading at $21 per share, down from $30 per share in 2014. Most recently, Waddell & Reed shares plunged upon the announcement of Michael L. Avery’s, co-manager of the Ivy Asset Strategy Fund, retirement on February 2, 2016.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights pertaining to these Funds, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.