Soreide Law Group has recently been contacted by investors in GBP Automotive Portfolio who are concerned that they may not be receiving their full distributions.
GBP Automotive Portfolio, LP is a private placement investment that is supposed to pay distributions to its limited partners. Private placements are only available to accredited investors. An accredited investor is an investor that has over a million dollar net worth, exclusive of their home, or income greater than $200k for the last two years. The investment was sold by independent broker-dealers throughout the United States. These brokers are known to include at least Newbridge Securities in Boca Raton, Florida and Advisors Group, Royal Alliance Associates, Sage point Financial, FSC Securities, and Woodbury Financial
Services.
Due to poor performance in 2018, investors were recently informed that monthly distribution will be changed to a quarterly dramatic distribution in order to overcome recent investment shortages. Continued pressure in the auto loan sector is expected in 2019, which may lead to additional changes to the income benefits to investors. As rates rise the value of this investment may be reduced dramatically and some financial advisors may have not informed their clients of all the potential risks given its limited liquidity and limited secondary market. If you were sold the GBP Automotive Portfolio, LP by your stockbroker, please contact one of our attorneys to discuss your rights. There have been several articles recently that highlight that GPB holdings II and GPB Automotive Portfolio which has a combined $1.3 billion in investors’ funds has completely missed their April 30th deadline to file financial statements causing greater concern for investors.
Soreide Law Group handles cases for investors on a contingency fee basis nationwide. All consultations are free and we can be reached at (888) 760-6552. If you would like more information also visit our website https://www.securitieslawyer.com
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