WESFX, WEFCX, WEIFX CLASS ACTION LAWSUIT: Wildermuth Fund Triggers Securities Fraud Class Action after NAV Plummets on Underperforming Portfolio -- Investors Urged to Contact BFA Law

NEW YORK, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Wildermuth Fund (WESFX, WEFCX, WEIFX), its auditor, investment adviser and several of the Fund’s senior officers and trustees after significant declines in the Fund’s NAV resulting from potential violations of the federal securities laws.

If you invested in Wildermuth Fund, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/wildermuth-fund.

Investors have until December 29, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and under Sections 36(b) and 47(b) of the Investment Company Act of 1940. The case is brought on behalf of investors in the Wildermuth Fund’s Class A (WESFX), Class C (WEFCX), and/or Class I (WEIFX) shares. The class action is pending in the U.S. District Court for the District of New Jersey and is captioned Cramer v. WithumSmith+Brown, PC, et al., No. 3:25-cv-17032.

Why Was Wildermuth Fund Sued Under the Federal Securities Laws?

The Wildermuth Fund is a closed-end mutual fund that sought to provide capital appreciation to investors by investing in a diversified portfolio of asset classes, including private equity. The Fund told investors it was investing in “high quality assets” in the private market sector. The Fund was also required to publicly report its NAV and to accurately value its investment assets.

In truth, as alleged, the Fund did not invest in high quality assets and inflated its NAV. The Fund’s portfolio companies were in steady, persistent decline throughout the relevant period, several of which were reportedly propped-up with monthly cash infusions by the Fund’s adviser and owners.

Wildermuth Fund’s NAV Declines as the Truth Is Revealed

On June 29, 2023, the Fund’s Board approved a plan to liquidate the Fund, based upon the recommendation of its adviser, due to a purported “decline in assets under management” and “market conditions, including liquidity.”

On November 1, 2023, Wildermuth Advisory was replaced as the Fund’s investment adviser and several of the Fund’s owners resigned. On December 19, 2023, the Fund’s new adviser concluded that the fair value of the Fund’s investments in private equity as of September 30, 2023, was approximately 29% lower than determined by Wildermuth Advisory mere months earlier. Compared with reported values in March 2022, by October 2024, the value of the Fund’s investments had dropped by 63.6% and its NAV had declined by 73.7%. By 2024, the Fund’s NAV was revised to less than $2.00 per share, an 80% reduction in NAV per share during the relevant period.

Click here for more information: https://www.bfalaw.com/cases/wildermuth-fund.

What Can You Do?

If you invested in Wildermuth Fund you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/wildermuth-fund

Or contact:
Ross Shikowitz
ross@bfalaw.com
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/wildermuth-fund

Attorney advertising. Past results do not guarantee future outcomes.

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