Broadway Show Fund Faces SEC Probe for Misleading Investors
The fund, started in 2016, has invested in dozens of shows including “Dear Evan Hansen,” “Moulin Rouge” and “Kinky Boots,” according to its website.
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The managing partners of a fund that invests in Broadway shows are under investigation by the Securities and Exchange Commission, which sued them failing to comply a subpoena.
In a suit filed Thursday in Manhattan federal court, the SEC said that it is probing whether Curtis Wayne Cronin and John Joseph of Broadway Strategic Return Fund LP, violated federal securities laws by making misleading statements to current and potential investors about how the funds’ assets are valued and whether the firm was under investigation.