Investors at GPB Capital have hired investment fraud attorneys to file FINRA claims to recover their losses from the drop in the share prices at GPB Capital.
PALM BEACH, FL, USA, July 18, 2019 /EINPresswire.com/ — Investors at GPB Capital Holdings have hired a investment fraud lawyers to file FINRA claims to recover their losses from the drop in the share prices at GPB Capital. On the 21st of June, 2019, it made the media rounds that GPB Capital announced a decline of up to 73% in the share prices of its investors. Many investors were devastated by this news and reports specifically mentioned significant declines for two of the largest investment funds at GPB Capital.
In spite of the negative reports and news that trailed GPB Capital, professional financial advisors, and broker-deal firms continued to report the original value of the shares on the account statements of customers. They also encouraged customers to ignore the negative reports and “hold” their investments.
Currently, GPB Capital investors have enlisted the services of the attorneys at Haselkorn & Thibaut, P.A., InvestmentFraudLawyers.com, to help them file multiple claims against GPB Capital and the attorneys are also investigating into the activities of the financial advisors and broker firms who did not stop recommending GPB Capital investment funds to shareholders. Any investor who would like their cases to be reviewed should put a call through to +1 888-628-5590.
Over the last few months, many GPB Capital investors were unaware of the true state of things despite all the negative reports because their monthly account statements kept reflecting the full price of their investment funds when they were originally purchased. Of course, the professional financial advisors and broker-dealers knew that the values on the account statements were not accurate, but they did nothing about it since they had earned their commissions which reportedly runs into millions of dollars. They left the customers in the dark and on their own.
When GPB Capital announced that GPB Automotive Portfolio and GPB Holdings II, its two largest investment funds had dropped in value, investors now started looking for ways to recover whatever they can out of their investment losses. Other GPB Capital Investments may also be affected by this problem, and some of them include GPB Waste Management Fund, GPB NYS Development, GPB Holdings I, and GPB Cold Storage.
From the 21st of June Reports, the values from the end of the year 2018 are bringing about significant losses for investors and let’s not forget that GPB Capital has not released the current value of its investment funds for the current year 2019. And with all the bad news surrounding GPB Capital in 2018, it is so not likely that the current values for GPB Capital’s investment funds (whatever they are) will improve.
As at 2018, GPB purportedly announced that it would focus on financial reporting and accounting issues when it suspended redemptions. Later, GPB announced the resignation of its auditor. In the same 2018, public investors were told that there was an unannounced raid of its offices in New York to collect material. Some other issues that GPB capital experienced in 2018 include reported investigations into GPB capital by authorities and regulators such as FINRA, SEC, and FBI. There were also reports that GPB could be a Ponzi Scheme.
You may be wondering how and why many public investors invested in GPB Capital. They marketed their private placements through professional advisors to public investors. These financial advisors earned up to 8% commission from selling these investments, and they reportedly earned more than $100 million in commissions. With this method, GPB Capital made more than $1.8 billion in the capital.
With thousands of financial advisors and broker-dealer firms selling GPB investment funds, the effect of all of these could be a huge loss for public investors all over the country. Some well-known broker-dealer firms such as Dawson James, Sagepoint Financial, Woodbury Financial, and FSC Securities have all sold the GPB Capital investment to their customers.
Investors can contact an attorney to help them review their investment and discuss the options they have if they want to recoup their losses. However, there is a limited time for investors to file claims.
Haselkorn & Thibaut, P.A.
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Source: EIN Presswire