Articles Posted in Securities and Exchange Commission

Iorio Altamirano LLP, a securities arbitration law firm based in New York, NY, is investigating potential lawsuits and securities arbitration claims against Great Point Capital LLC for its sale of L Bonds issued by GWG Holdings, Inc. (GWGH).  Upon information and belief, Great Point Capital LLC was a part of…

Iorio Altamirano LLP, a securities arbitration law firm based in New York, NY, is investigating potential lawsuits and securities arbitration claims against Aegis Capital Corp. for its sale of L Bonds issued by GWG Holdings, Inc. (GWGH).  Upon information and belief, Aegis Capital Corp. was a part of Emerson Equity…

After filing Chapter 11 bankruptcy last month and failing to file its annual report with the Securities and Exchange Commission earlier this year, GWG Holdings, Inc. will now be delisted from Nasdaq.   On May 17, 2022, the Nasdaq Stock Market announced that it would delist the common stock of GWG…

**Update:  June 16, 2022** On June 15, 2022,  the United States Securities and Exchange Commission filed a lawsuit against Western International Securities, Inc., and several of its brokers, in California Central District Court in connection with approximately $13.3 million in L bonds sold to retail customers.  The firm is accused…

Investors who purchased GPB funds in 2016 through a broker-dealer need to act now to preserve their legal rights. Failure to file an arbitration claim may prevent recovery of investment losses. Time is running out. GPB investors should act in 2022. Key Takeaways: Investors can potentially recover investment losses by…

David Gentile, the disgraced founder and former CEO of GPB Capital Holdings LLC, has sued GPB Capital. Mr. Gentile seeks to make GPB Capital, which an independent court-appointed monitor is now overseeing, cover the legal costs for his defense against criminal and civil securities fraud. In February 2021, Mr. Gentile…

Energy 11, L.P. is an illiquid, non-traded limited partnership sold as private placement security exclusively by broker-dealer David Lerner Associates, Inc. The limited partnership invests in the oil, gas, and energy sector, which has been extremely volatile the past several years.  Energy 11 was not suitable for most conservative or…

Between July 2013 and June 2018, limited partners invested $675 million into GPB Automotive Portfolio, LP, which was sold as a private placement offering by broker-dealers and registered investment advisory firms across the country. Financial advisors, who received large commissions for selling limited partnership units of GPB Automotive, lured investors…

David Gentile, the disgraced founder of GPB Capital Holdings LLC, who is facing criminal and civil fraud charges, is seeking to obtain millions of dollars from GPB.  Despite being accused of running a Ponzi-like scheme when he was running GPB Capital, Mr. Gentile is asking for court-supervised mediation to obtain…

The Securities and Exchange Commission (“SEC”) announced a whistleblower award of roughly $36 million to a whistleblower that provided information to the SEC on an illegal scheme. The information led to successful regulatory enforcement actions by the SEC and another federal agency. In total, $161 million has been awarded to…