BOCA RATON, Fla., Aug. 20, 2021 (GLOBE NEWSWIRE) -- National investor fraud law firm, KlaymanToskes (“KT”), continues to investigate and pursue FINRA arbitration claims on behalf of investors who were solicited to purchase millions of dollars of private placement securities in GPB Capital Holdings (“GPB”) in the form of notes, including a claim (FINRA Case No. 19-01153) seeking damages up to $5,000,000 against Royal Alliance Associates, Inc. (“Royal Alliance”).
According to the claim, Royal Alliance’s financial advisor, Matthew Crafa, represented to the investors that GPB Capital investments were safe, low risk products that would preserve their principal and provide quality income. Further, Crafa represented to the investors that they would earn receive their principal investment back plus they would double their assets in seven years. Despite the Claimants’ requests for safety and liquidity, nearly $1.5 million of their assets were invested in speculative, illiquid products, and approximately $2 million of Claimants’ assets were invested into four annuities, which the investors could not sell without suffering significant penalties.
Brokerage firms like Royal Alliance were required to perform due diligence prior to recommending GPB to their customers, and their failure to do so may result in liability. More than 60 broker-dealers sold GPB funds, including Ascendant Alternative Strategies, LLC, Sagepoint Financial Inc., FSC Securities Corp., and Woodbury Financial Services Inc. GPB Capital securities under investigation include:
- GPB Holdings, LP
- GPB Cold Storage, LP
- GPB Automotive Portfolio, LP
- GPB Waste Management, LP
The sole purpose of this release is to investigate on behalf of our clients who purchased GPB notes. Investors who have information regarding the presentation and sale of these notes are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.
About Klayman Toskes
KT is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $220 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.
Destination: https://klaymantoskes.com/gpb-capital-royal-alliance-investigation/
Contact
KlaymanToskes
Lawrence L. Klayman, Esq.
(561) 542-5131
lklayman@klaymantoskes.com
www.klaymantoskes.com
