More GPB Capital lawsuits have been filed after investors received notices of massive declines in share values, investigations of GPB and a raid by the FBI.
PALM BEACH, FL, USA, October 11, 2019 /EINPresswire.com/ — Haselkorn and Thibaut P.A. (InvestmentFraudLawyers.com) is investigating financial advisors and broker-dealer firms that sold GPB investments to their clients after there appears to be potential evidence of alleged irregularities at GPB Capital Holdings, LLC ("GPB Capital"). There were sixty or more broker-dealer firms all across the country selling GPB Capital-related investments to their clients.
Haselkorn & Thibaut, P.A. (InvestmentFraudLawyers.com) are handling investment fraud cases and securities arbitration cases nationwide. Their clients have purchased GPB Capital-related investments from numerous financial advisors and broker-dealer firms all over the country and the cases they have filed on behalf of investor clients are seeking damages totaling well in to the millions of dollars. In addition, they are continuing ongoing investigations involving numerous other financial advisors and broker-dealer firms involving GPB Capital-related investments and other similar, illiquid, non-publicly traded investments as well.
For investors that were sold GPB Funds, or similar types of investments, and who are interested in learning more, or who may have information related to these issues, they are encouraged to call 888-628-5590.
The sole purpose of this release is to investigate the manner in which GPB Capital funds were approved for sale by broker-dealers to investor clients, including new product reviews, due diligence, as well as the sales practice and supervision related to the recommendations in GPB Capital funds and the transactions related to same. If you have any knowledge or experience with these matters, please contact Haselkorn & Thibaut, P.A. at 1-888-628-5590, or visit the InvestmentFraudLawyers.com law firm website.
By way of background according to AlphaBetaStock.com, in July 2017, GPB Capital sued a former business partner who allegedly reneged on a sale of numerous dealerships in the New York metropolitan area, where among other claims, GPB Capital sought the return of $42 million it had paid to the former business partner. While that litigation remains ongoing, allegations made in the course of that litigation appear to raise concerns for GPB Capital-related investments as well as the investors in those funds.
Those allegations appear to surface in 2018. Also throughout 2018 and into 2019, there are a number of other issues which may raise concerns for investors in GPB Capital:
• April 2018: GPB Capital failed to timely produce audited financial statements;
• August 2018: GPB Capital announced no new investor capital would be accepted;
• November 2018: GPB Capital's auditor resigned, and the reasons cited were disconcerting for investors (to say the least);
• December 2018: FINRA and SEC launched investigations into GPB Capital, as did state securities regulators (in Massachusetts – although the timing of these investigations is not entirely clear) but one or more also appears to include broker-dealer firms who have sold the GPB Capital funds to investor clients;
• February 2019: GPB Capital office is raided by the FBI.
Later, in June 2019, GPB Capital reported significant losses in the value of GPB Holdings II and GPB Automotive Portfolio, which decreased more than 25% and 39%. While other GPB funds reported decreases in the estimated value up to 73%. Following the announcement, Fidelity and other well-recognized custodian firms appear to have decided to no longer custody those securities on their platform.
The various GPB Capital funds include the following:
GPB Automotive Portfolio, LP
GPB Cold Storage LP
GPB Eurobond Finance PLC
GPB Holdings II, LP
GPB Holdings III, LP
GPB Holdings Qualified, LP
GPB Holdings, LP
GPB NYC Development, LP
GPB Scientific, LLC
GPB Waste Management, LP (formerly: GPB Waste Management Fund, LP)
About Haselkorn & Thibaut, P.A.
Haselkorn & Thibaut, P.A. is a law firm that specializes in representing investor clients in investment fraud matters and FINRA arbitration cases nationwide. They represent both individual and institutional investors seeking to aggressively pursue their claims and maximize their recovery of investment losses for victims of negligence or investment fraud. As former securities industry defense attorneys, they are an experienced group of lawyers that have moved from their side, to YOUR side and they are available to assist you today.
If you are an investor with any questions related to the handling of your investments in GPB Capital funds or any other similar illiquid private placement that you believe has lost value, Please telephone Haselkorn & Thibaut, P.A. at 1-888-628-5590, for more information and ask about a no-cost consultation and portfolio review. No Recovery, No Fee.
Haselkorn & Thibaut, P.A.
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Source: EIN Presswire