GPB CAPITAL INVESTOR ALERT: Legal Investigation Launched on Behalf of GPB Funds Investors
OAKLAND, Calif.--(BUSINESS WIRE)--Mar 26, 2019--Gibbs Law Group and Girard Sharp are investigating legal claims on behalf of investors of GPB Funds, including GPB Automotive Portfolio; GPB Holdings I; GPB Holdings II; GPB Waste Management Fund; GPB Cold Storage; and GPB NYC Development. Our GPB Capital lawsuit investigation involves claims against GPB and related entities, as well as claims against the brokerage firms that sold GPB funds to investors.
To speak privately with an attorney regarding our GPB investigation, click here .
In 2018, GPB announced that it was suspending redemptions to focus on accounting and financial reporting issues. GPB later announced that its auditor resigned “due to perceived risks…that fell outside of their internal risk tolerance parameters.” Most recently, GPB informed investors that authorities raided GPB Capital’s New York offices unannounced and collected material. According to InvestmentNews and other media outlets, a number of regulators and legal authorities have launched investigations into GPB, including the FBI, SEC, and FINRA.
GPB has reportedly raised more than $1.8 billion in investor funds across its various private placement offerings. Many investors were lured by to invest in GPB due to the attractive investment returns offered.
It has also been reported that brokers received more than $100 million in commissions from selling investments in GPB funds to investors and that brokers were incentivized to sell the GPB Funds because of the high commissions and fees they earned. More than 60 brokerage firms sold GPB to investors, including Sagepoint Financial, Woodbury Financial Services, FSC Securities and Advisor Group.
Our investment fraud attorneys are currently investigating claims against GPB and brokerage firms that sold GPB Funds. If you invested in a GPB Fund and would like to speak privately with an investment fraud attorney to learn more about our investigation and your legal rights, visit our website or contact our securities team directly at (800) 808-5294.
About Gibbs Law Group
Gibbs Law Group is a California-based law firm committed to protecting the rights of investors and consumers nationwide who have been harmed by corporate misconduct. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
About Girard Sharp
Girard Sharp has earned national Tier 1 rankings for Mass Tort and Class Action Litigation and has been named to the U.S. News – Best Lawyers “Best Law Firms” list each year since 2013. Read about some of our results.
We have recovered over a billion dollars for our clients against some of the nation’s largest corporations, such as Raymond James, Peregrine Financial Group, and OppenheimerFunds, in cases arising from securities fraud, false advertising and other unfair business practices.
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CONTACT: ALLISON GOSSARD
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Gibbs Law Group
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PUB: 03/26/2019 12:00 PM/DISC: 03/26/2019 12:00 PM