Many GPB Capital Holdings LLC (“GPB”) shareholders were alerted after receiving the current April 2019 letters. Those investors are now weighing their options in light of GPB’s yearlong refusal to pay investors any distributions. A promising conclusion to a terrible situation doesn’t seem probable, and GPB investors fear they may be left “holding the bag.” Retail investors were lured by opportunistic brokers offering attractive investment returns, along with the brokers that sold them were attracted by massive commissions.
Time is running out for investors to file a GPB Capital lawsuit. Haselkorn& Thibaut, P.A., InvestmentFraudLawyers.com, have filed multiple claims against various brokerage companies between GPB Capital and continue to explore others. Investors can have free and confidential consultation by calling (888) 628–5590.
GPB investors are more than likely aware of the various regulatory investigations involving GPB (i.e., State of Massachusetts, Securities and Exchange Commission, and FBI), but they are also trying to make sense of GPB’s recent correspondence issued in April 2019: worried investors may know:
- April 4, 2019: GPB Capital issued a letter to “Valued Partners,” (investors), in which, among other things, GPB anticipated quarterly (not monthly) distribution payments could be announced at the end of April 2019 and compensated on May 15, 2019; and GPB issued another letter to”Valued Partners” confirming that 1st quarter 2019 supply obligations won’t be made, promising to keep investors updated with new advancements.
- GPB’s April 2019 correspondence should no doubt trigger concern. Investors hope the GPB situation isn’t the next story on American Greed and are wondering what to do now. Investors continue to monitor the problem and want to have their queries answered.
GPB Capital lawsuit
Sagepoint Woodbury Financial Services Inc., Newbridge Securities, Ladenburg Thalmann, and Hightower Securities are among the approximate 70 broker-dealer companies that sold GPB capital to retail investor clients. The GPB funds are private placement investments, which can be very complex, insecure, and not always suitable for retail investors. Most investors don’t want to sue, but the losses may only be recovered by a GPB Capital lawsuit.
Individual Brokers licensed with the Financial Industry Regulatory Authority (“FINRA”) need to adhere to various rules, laws, and regulations when recommending the purchase, hold or sale of safety. In addition, the brokers’ employing firms are required by law to supervise the brokers’ activities. Unfortunately, some brokers, maybe inspired by high-commissions private placements such as the GPB funds, might have run afoul of industry principles, laws and regulations in a plethora of ways. They, together with their investment firms, may be responsible to you for your investment reductions in GPB funds for failing to represent the investments correctly.
If you’re an investor that has some questions associated with the handling of your investments in the GPB funds or some other private placement, please telephone (888) 628–5590 the investment fraud lawyers at Haselkorn & Thibaut, P.A. at no-cost consultation for a no-cost consultation and portfolio review.