BOCA RATON, Fla., Dec. 4, 2013 (GLOBE NEWSWIRE) -- Silver Law Group announces its continued investigation on behalf of investors aggrieved by the actions of hedge fund manager Charles R. Langston III and CRL Management LLC, a Miami-based company through which Mr. Langston conducts business. On October 28, 2013, Silver Law Group filed a lawsuit in the United States District Court for the Southern District of Florida alleging that Mr. Langston and CRL Management fraudulently solicited over $14 million dollars of investor funds through material misrepresentations about the nature of the investments, the commission or fees that would be assessed to investors and that Mr. Langston would personally invest several million dollars of his own money in the venture. According to the Complaint, the investment vehicle promoted by Mr. Langston and CRL Management was misrepresented, was not registered with the U.S. Securities and Exchange Commission ("SEC"), and wound up costing an investor over $3.5 million in losses and over $1 million in fees and commissions.
On December 4, 2013, the SEC announced that it has filed a civil injunctive action against Mr. Langston and his business entities for insider trading in the stock of a Chinese company and conducting illegal short sales in the securities of three other companies. According to the SEC's lawsuit, Mr. Langston made nearly $200,000 in illegal profits by trading on inside information. The SEC lawsuit further alleges that Mr. Langston and his business entities (including CRL Management) engaged in prohibited short sales of equity securities during a restricted period prior to a public offering and then purchased those same securities through the subsequent public offering.
Also, a Financial Industry Regulatory Authority ("FINRA") arbitration panel recently entered a $1,312,949.31 award against CRL Management for having breached a contract with Credit Suisse Securities (USA) LLC in connection with a purchase of Invesco Mortgage Capital.
Silver Law Group is a nationally-recognized securities law firm headquartered in South Florida, with satellite offices in New York and Washington DC, representing investors worldwide with their claims for losses in securities arbitration and litigation matters as well as in disputes litigated in state and federal courts. Scott Silver has a Martindale-Hubbell® Peer Review Ratings™ of "AV" for achieving the highest ethical and legal ability standards. Silver Law Group has successfully recovered multi-million dollar awards for its clients in a wide variety of investment fraud cases against the country's top brokerage houses and others. If you invested money with Charles R. Langston III, CRL Management LLC, or any of Mr. Langston's other business entities and would like to discuss your legal rights, you may contact us at ssilver@silverlaw.com or call the law firm at 1-855-755-4799. Additional information is available at www.silverlaw.com.