May 7, 2019

Did You Invest in GPB Capital Holdings?

reit-investor-alert

According to a recent article in InvestmentNews, financial advisors and broker/dealers who sold $1.5 billion of the high-risk private placements offered by GPB Capital Holdings should be prepared for the worst.
Last year, GPB Capital Holdings was supposed to file a "Form 10" with the Securities and Exchange Commission (SEC) and begin making financial disclosures public for two of their largest funds. The funds are private and are not listed or traded on an exchange, but they have over $10 million in assets and 750 or more shareholders, so they are required to file a "Form 10" with the SEC.
GPB Capital Holdings claims it is performing an audit of its assets. This could cause a delay in its filings with the SEC by three or even six months, but not making appropriate filings with the SEC in more than a year is a red flag for GPB investors and their advisors.
The two funds in question are GPB Automotive Portfolio which raised $622.1 million and GPB Holdings II which raised $645.8 million. They both have over 6,000 investors.  These statistics were according to filings with the SEC that contained very little financial information which would give any indication regarding their performance. Together, according to InvestmentNews, the two funds have paid brokers $100.1 million in commissions with a rate of 7.9% and as many as 60 broker/dealers have sold the funds.
Primarily, GPB Capital Holdings invests in auto dealerships and waste management. They did not register the funds by the April 30, 2018 deadline and currently have no date when annual reports for the two funds will be filed with the SEC.  The advisors and clients who purchased the funds for their high yields, are not being made aware of basic financial information about the funds.
Soreide Law Group is investigating the high-risk, unsuitability, and commissions associated with GPB Capital Holdings and the following funds:
GPB Holdings LP
GPB Holdings II
GPB Holdings III
GPB Automotive Portfolio LP
GPB Waste Management, LP
GPB NYC Development LP 
If your broker/dealer recommended investing in the high-risk private placements associated with GPB Capital Holdings, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.

Recent Posts

March 28, 2024
Al Lovelace In Investor Disputes Over Annuity Misrepresentation

Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker Al Stephen Lovelace [CRD: 2393766, Rutherfordton, North Carolina], given the disclosures on FINRA BrokerCheck. Evidently, Lovelace has worked for Equitable Advisors LLC since December 27, 2016, and worked previously at AXA Advisors LLC from October 2, 2008, to […]

March 28, 2024
KAREN CHUNG of WESTERN INTERNATIONAL

Soreide Law Group is conducting an investigation into WESTERN INTERNATIONAL SECURITIES, INC. of Pasadena, California, financial advisor, KAREN TRAN CHUNG (KAREN CHUNG). According to FINRA’s  BrokerCheck, KAREN CHUNG, has been in the securities industry for 20 years and has been listed with 4 firms.  She is currently listed with, WESTERN INTERNATIONAL SECURITIES, INC., 70 S. […]

March 26, 2024
Stifel Fined $400K by FINRA

According to a recent article in Wealth Management, Stifel will pay over $400,000 to settle FINRA disciplinary charges that the firm allegedly did not properly supervise one of their registered representatives who misappropriated over $100,000 from an elderly client. Stifel agreed to the penalties without admitting or denying FINRA’s findings. In addition to a $400,000 penalty, Stifel […]

Contact us Nationwide USA
2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062
Helping clients recover money across the USA
search
Copyright © 2022 Soreide Law Group, PLLC  |  All Rights Reserved
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram