CHICAGO, June 21, 2019 (GLOBE NEWSWIRE) -- The White Law Group is currently representing investors in claims involving unsuitable recommendations of GPB Capital Holdings investments.
GPB Capital Holdings has reportedly raised $1.8 billion from accredited investors through private placement investments in the auto dealership industry and the waste management industry.
The company is currently under investigation by the SEC and the Financial Industry Regulatory Authority (FINRA), and in March the FBI reportedly showed up at the GPB offices with a warrant to gather information and documents.
Now, more bad news for investors. The company today reported significant losses in the value of two of its investment funds, GPB Holdings II and GPB Automotive Portfolio, which have seen declines in value, respectively, of 25.4% and 39%.
The White Law Group is investigating potential claims involving broker-dealers who may have unsuitably recommended the following GPB Capital Holdings, among others:
GPB Holdings LP
GPB Holdings II
GPB Holdings III
GPB Automotive Portfolio LP
GPB Waste Management, LP (Armada Waste Management, LP)
GPB NYC Development LP
Generally speaking, private placements are not subject to some of the laws and regulations that are designed to protect investors. Private and public companies engage in private placements to raise funds from investors.
Private Placement investments such as GPB offerings should only be sold to high net worth, knowledgeable investors.
If an investment firm makes unsuitable recommendations to its client such as a high risk private placement investments and breaches its fiduciary duties it may be held liable for investment losses.
“Your broker has a duty to conduct a reasonable investigation to make sure it is suitable for you. They must consider your age, financial situation, current and future needs, investment objectives and tax status.” said D. Daxton White, managing partner of The White Law Group.
“If your broker recommended a GPB Capital Holdings offering and fails to satisfy its duties, this could constitute a violation of the antifraud provisions as well as other federal securities laws.”
If you suffered losses investing with GPB Capital Holdings, please contact the The White Law Group at (888)637-5510 for a free consultation with a securities attorney. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm and financial advisors.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, please visit www.WhiteSecuritiesLaw.com.