Vericimetry US Small Cap Value Fund (the Fund) was
named as a defendant in two lawsuits, Wilmington
Savings Fund Society, FSB as successor indenture
trustees v. Richard L. Dickson, et al. (Case No. 20-cv-
4436), and Marc S. Kirschner, as Trustee for the NWHI
Litigation Trust v. Richard L. Dickson, et al. (Case No. 20-
cv-4569), both of which arose out of distributions the
Fund received from its investment in The Jones Group,
Inc., which was subsequently rendered insolvent due to
a series of merger transactions in 2014.  The lawsuits
alleged that the distributions to the Fund and the other
defendants constituted a fraudulent
conveyance.  Plaintiffs demanded that the Fund return
the funds it received in the distribution, which included
its initial investment and profits of approximately
$43,000.  The Fund reached a settlement with plaintiffs
for $35,000 and the cases were dismissed on June 22,
2020.