Bloom Investment Counsel, Inc.

September 01, 2009 09:57 ET

Bloom Responds to Reports of Litigation

TORONTO, ONTARIO--(Marketwire - Sept. 1, 2009) - Bloom Investment Counsel, Inc. announced today that it has received the claim made against it by Citadel Fund Administrator that has been the subject of recent press coverage and other publicity. The claim is made in connection with Citadel Diversified Investment Trust, Citadel HYTES Fund, Citadel S-1 Income Trust Fund, Series S-1 Income Fund, and Citadel Premium Income Fund, which are the subjects of a proxy contest between Citadel Fund Administrator and Blue Ribbon Fund Management Ltd., a company with which Bloom is associated.

"I regret that Citadel Fund Administrator has resorted to litigation. I believe that the allegations in the claim are without merit and have been made solely for tactical reasons. I intend to defend the claim vigorously," said Paul Bloom, President of Bloom Investment Counsel, Inc.

Contact Information

  • Bloom Investment Counsel, Inc.
    M. Paul Bloom