Scott+Scott Attorneys at Law LLP and Dilworth Paxson LLP File Securities Class Action Against Wildermuth Fund and WithumSmith+Brown, PC
NEW YORK, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”) and Dilworth Paxson LLP (“Dilworth Paxson”) have filed a securities class action lawsuit in the United States District Court for the District of New Jersey against Wildermuth Fund, Wildermuth Advisory, LLC, WithumSmith+Brown, PC, Daniel Wildermuth, Gerard Scarpati, Carol Wildermuth, Anthony Lewis, R. Martel Dey, Randall Fretz, and Donald R. Henry (collectively, “Defendants”). The Class Action asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (15 U.S.C. §§78j(b) and 78t(a)) and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b-5), and § 36(b) of the Investment Company Act of 1940 (15 U.S.C. § 80a-35(b)), on behalf of all persons and entities that purchased and/or otherwise acquired shares of the “Wildermuth” mutual fund classes – Class A (ticker: “WESFX”), Class C (ticker: “WEFCX”), and Class I (ticker: “WEIFX”) – between November 1, 2020 and June 29, 2023, inclusive (the “Class Period”), and were damaged thereby (the “Class”). The Class Action is captioned: Cramer v. Wildermuth Fund, et al., Case No. 3:25-cv-17032 (D.N.J.).
LEAD PLAINTIFF DEADLINE ON DECEMBER 29, 2025
Wildermuth Fund (the “Fund”) is a closed-end investment company that operated as an interval mutual fund registered under the Investment Company Act of 1940, and Wildermuth Advisory, LLC (the “Adviser”) served as the Fund’s investment adviser until November 1, 2023. WithumSmith+Brown, PC’s was the Fund’s auditor during the Class Period.
The Class Action alleges that, during the Class Period, 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.
LEAD PLAINTIFF DEADLINE ON DECEMBER 29, 2025
If you purchased and/or otherwise acquired shares of the “Wildermuth Fund” mutual fund classes identified above during the Class Period and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff.
If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the District of New Jersey no later than December 29, 2025. The lead plaintiff is a court-appointed representative for absent class members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.
If you wish to apply to be lead plaintiff, please contact attorney Matthew Peller at (888) 398-9312 or at mpeller@scott-scott.com.
What Can You Do?
You may contact an attorney to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You may retain counsel of your choice to represent you in the Class Action.
About Scott+Scott
Scott+Scott is an international law firm known for its expertise in representing corporate clients, institutional investors, businesses, and individuals harmed by anticompetitive conduct or other forms of wrongdoing, including securities law and shareholder violations. With more than 100 attorneys in eight offices in the United States, as well as three offices in Europe, our advocacy has resulted in significant monetary settlements on behalf of our clients, along with other forms of relief. Our highly experienced attorneys have been recognized for being among the top financial lawyers in 2024 by Lawdragon, WWL: Commercial Litigation 2024, and Legal 500 in Antitrust Civil Litigation, and have received top Chambers 2024 rankings. In addition, we have been repeatedly recognized by the American Antitrust Institute for the successful litigation of high-stakes anticompetitive claims in the United States.
To learn more about Scott+Scott, our attorneys, or complex case resolution, please visit www.scott-scott.com.
About Dilworth Paxson
Dilworth Paxson has litigated some of the largest high-profile class actions and has recovered over two billion dollars for victims of corporate fraud. We currently serves as co-lead counsel in numerous securities and consumer class actions pending in several U.S. District Courts. Recoveries obtained by our firm include: CAPP, Inc. et al. v. Discover Financial Services et al., Case No. 1:23-cv-4676 (N.D. Ill.) (Co-lead; secured $1.3 billion plus interest settlement for merchants); DeLuca, et al. v. GPB Auto. Portfolio, LP, et al., No. 19-cv-10498-LAK (S.D.N.Y.) (Co-lead and secured $46 million settlement for investors); and TRSL v. Greenberg, et al., No. 20106 (Del. Ch.) (recovered $115 million settlement on the eve of trial).
To learn more about Dilworth Paxson, our attorneys, or our corporate fraud recovery work, please visit www.dilworthpaxson.com/.
This may be considered Attorney Advertising.
CONTACT:
Matthew Peller
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 24th Floor, New York, NY 10169
(888) 398-9312
mpeller@scott-scott.com
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