The Orbitex Focus 30 Fund is hoping to file a countersuit against an individual who named the fund in an amended lawsuit filed earlier this year. A motion was filed July 13 in the 13th Circuit Court in Hillsborough County, Fla., seeking the court's approval to file the countersuit.

The countersuit accuses Edward Semlitz of self-dealing and failing to properly supervise the actions of Vector Index Advisors, a mutual fund advisory firm in Tampa, Fla. of which Semlitz owned shares and served as corporate director. The motion to allow the suit's filing was made on behalf of the fund by the law firm of Glenn Rasmussen Fogarty & Hooker of Tampa.

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