Investors are filing lawsuits and FINRA claims to recover losses from GPB Capital after a raid by the FBI, drops in values and investigations.
PALM BEACH, FL, USA, September 13, 2019 /EINPresswire.com/ — If you invested in GPB Capital funds through Newbridge Securities Corporation, there is a good chance the value of your investment has declined sharply. For some investors faced with investment losses, a FINRA Dispute Resolution Customer Claim may be the way to go if you want to recover your losses in a private, confidential, and efficient alternative (compared to state or federal court litigation). See the blog post "GPB Capital Lawsuit.")
One of the best decisions you can make in this process is to consider having experienced securities arbitration attorneys by your side, to help you maximize your potential recovery of investment losses. The securities arbitration attorneys at Haselkorn & Thibaut, P.A. (InvestmentFraudLawyers.com) can help you from start to finish in this process. This FINRA Dispute Resolution Customer Claim is a private arbitration process between you and your brokerage firm. There are typically no depositions, and the process is intended to be a faster, more efficient and less expensive alternative to court litigation.
Broker-Dealers and Financial Advisors were highly motivated to sell GPB Capital investments to clients based on high commission structures sometimes paying near 8% commissions. According to SEC filings one of the broker-dealer firms that was selling GPB Capital investments to investor clients was Newbridge Securities Corporation. Newbridge Securities Corporation is headquartered in Boca Raton, FL. According to FINRA Brokercheck, Newbridge Securities Corporation has approximately 32 disclosures and has previously been fined by regulators for failing to supervise activities within the firm. See: FINRA Brokercheck.
GPB Capital has not recently filed audited financial statements with the SEC. GPB has repeatedly missed filing deadlines and investors in GPB Capital funds including GPB Holdings II LP and GPB Automotive Portfolio are left guessing as to the current true value of their investments. Most recently, GPB Capital and various broker-dealers were representing that financial were going to be updated in late September 2019. Recent news articles are now indicating that deadline will also be delayed further, at least until year end 2019.
In addition to sorting out its financials and accounting, GPB Capital has been contending with a number of other issues. In or about December 2018, regulators from FINRA and the SEC launched an investigation, the state of Massachusetts securities regulators have also been investigating and, in March 2019, the FBI raided the GPB offices.
The investors in GPB Capital seem to be on the receiving end of a lot of negative news reports, and, at the same time, GPB Capital’s last round of updated financials appeared to signal investor losses ranging from 25% to over 70%. That combined with additional delays on any new financial reports is not bringing any comfort to investors who are already nervous, many of whom are assuming the worst.
Investigation and Potential Claims
Haselkorn & Thibaut P.A. (InvestmentFraudLawyers.com) has filed a number of claims on behalf of GPB fund investors against various broker-dealer firms and continues to investigate the due diligence process, new product review process, sales practices and supervision practices at numerous other brokerage firms that were selling GPB funds to investor customers.
If you are an investor in GPB funds that were purchased based on recommendations from a financial advisor at Newbridge Securities Corporation, or if you have any information relating to the due diligence process, new product review process, sales practices and supervision practices at Newbridge Securities Corporation please contact the securities attorneys at Haselkorn & Thibaut, P.A. (www.Investmentfraudlawyers.com) to discuss these issues. Call now nationwide for a free consultation at 1-888-628-5590 and speak with one of our experienced securities attorneys today.
FINRA’s Office of Dispute Resolution is the largest securities dispute resolution forum in the United States and has proven to have both the resources, expertise and experience to provide fair and effective means for processing securities-related dispute resolution matters.
The sole purpose of this release is to investigate the manner in which GPB Capital funds were approved for sale by broker-dealers such as Newbridge Securities Corporation to investor clients, including new product reviews, due diligence, etc. as well as the sales practice and supervision related to the recommendations in PB Capital funds and the transactions related to same. If you have any knowledge or experience with these matters, please contact Haselkorn & Thibaut, P.A. at 1-888-628-5590, or visit the law firm's website at InvestmentFraudLawyers.com.
About Haselkorn & Thibaut, P.A.
Haselkorn & Thibaut, P.A. is a law firm that specializes in investment fraud matters and FINRA arbitrations nationwide. They represent both individual and institutional investors seeking to aggressively pursue their claims and maximize their recovery of investment losses for victims of negligence or investment fraud. As former securities industry defense attorneys, they are an experienced group of lawyers that have moved from their side, to YOUR side and they are available to assist you today.
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Source: EIN Presswire