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Violating terms of prospectus or contract

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When investors put their money into funds, they make choices about the kinds of funds they want to invest in—the riskiness of the investments, the size of the companies invested in, the economic sector, the region or country, and so on. The complaint for this class action claims that Sequoia Fund’s investment in a single company ended up violating its own rules about concentration in a single industry and caused the fund eventually to lose about $600 million in value.