GPB Capital Holdings - Investigation On Behalf Of Investors In Certain GPB Funds

PHILADELPHIA, April 18, 2019 /PRNewswire/ -- The investor rights lawyers at Goldman Scarlato & Penny are investigating potential claims on behalf of investors in certain funds sold by GPB Capital Holdings, including GPB Automotive Portfolio, GPB Holdings I, GPB Holdings II, GPB Cold Storage, GPB Waste Management, and GPB NYC Development. The lawyers' investigation includes potential claims against the brokerage firms that sold the GPB funds, as well as claims against GPB itself to recover investor losses.

GPB was launched in 2013 and became one of the fastest growing private placement firms selling shares in its funds through independent broker-dealers.

In July 2018, InvestmentNews reported that GPB missed the deadline to file financial statements with the Securities and Exchange Commission ("SEC") for two of its largest funds; GPB Automotive Portfolio and GPB Holdings II. In August 2018, GPB announced it was taking a break from raising new money to focus on straightening out the accounting for the two funds. In September 2018, the Massachusetts Secretary of the Commonwealth announced an investigation into 63 broker-dealer firms selling GPB Capital private placements. In November 2018, GPB's auditor, Crowe LLP, resigned.

In December 2018, InvestmentNews reported that the SEC and the Financial Industry Regulatory Authority ("FINRA") launched investigations into both the broker-dealers and GPB Capital itself. Most recently, it was reported that the FBI made an unannounced visit to GPB Capital's office in New York as part of an investigation into GPB Waste NY, the New York-based trash hauler owned by GPB Capital Holdings.

What GPB Investors Should Do

If you lost money through your investments with GBP Capital, you should call securities attorneys Alan Rosca, Paul Scarlato, or Doug Bench for a free, no-obligation evaluation of your options, at 888-998-0530 or via email at [email protected].

The Goldman Scarlato & Penny law firm represents investors who lose money as a result of investment-related fraud or misconduct. The firm takes most cases of this type on a contingency fee basis and advances the case costs. There are no fees or costs if no recovery.

For more information about the Goldman Scarlato & Penny attorneys and disclosures about their areas of practice and admissions, visit https://investorlawyers.org/ . Attorney advertising. © Goldman Scarlato & Penny 2019.

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SOURCE Goldman Scarlato & Penny, P.C.