Press Release (ePRNews.com) - FORT LAUDERDALE, Fla. - Aug 15, 2019 - The Wolper Law Firm is currently pursuing recovery options against brokerage firms that recommended that clients purchase risky private placements issued by GPB Capital Holdings, LP.
The well-known investor advocates at the Wolper Law Firm recently launched a new website at www.GPBRecover.com to help aggrieved investors recoup losses related to investments in GPB Capital Holdings, LP. The New York investment services firm is at the center of an investigation spearheaded by the Financial Industry Regulatory Authority (FINRA) and the Security and Exchange Commission (SEC).
It appears that GPB Capital Holdings initially accepted investments from upwards of 4,000 investors, receiving several hundred million dollars in capital in early rounds. Additionally, GPB Capital Holdings encouraged several brokerage firms to recommend its products to their clients by offering commissions of up to nearly 9 percent of the investment amount. Considering all sources of investments, GPB Capital Holdings took in $1.5 billion in investment.
The problems came to the surface in 2018, when GBP Capital Holdings failed to file several necessary reports with the SEC. Not long after that, the company stopped accepting new investments and the company’s chief auditor resigned, citing the perceived risk involved with remaining associated with the company. As a result of these events, the SEC and FINRA initiated an investigation into GPB Capital Holdings, which will likely harm investors’ returns.
The Wolper Law Firm is investigating claims against GPB Capital Holdings, as well as its related companies. In addition, the firm is looking into the 63 broker-dealers that recommended GBP private placements out of concerns that these broker-dealers did not have conduct the appropriate due diligence before recommending GBP products to their clients.
While the financial services industry may not be transparent, it is heavily regulated. The team of knowledgeable securities attorneys at the Wolper Law Firm are intimately familiar with this area of the law and understand how to hold advisors and brokers accountable for their fraud and misrepresentations. The Wolper Law Firm represents clients across the country, including, but not limited to Miami, Orlando, Houston, Washington, D.C., Boston, Phoenix, Salt Lake City, New York, Chicago and San Francisco. To reach the Wolper Law Firm, call 800.931.8452 or visit https://wolperlawfirm.com.
If you have any concerns regarding this press release, please contact the Author / Media Contact / Business of this press release. ePRNews is not resposible for the accuracy of the news posted and do not endorse, support any product/ services/ business mentioned and hereby disclaims any content contained in this press release.