Investor Lawyers Blog

GPB Capital Sells Prime Automotive Group Dealerships for $880M

Published on: September 16, 2021 | by Shepherd Smith Edwards & Kantas, LLP

GPB Sells Remaining Prime Automotive Group Dealerships to Group 1 Automotive According to a regulatory filing submitted on September 13th, 2021, the private equity firm is selling all of its Prime Automotive car dealerships to Group 1 Automotive Inc. for $880M. The sale includes GPB Automotive Portfolio’s remaining 30 stores and three collision repair shops. […]

Ex-Madison Avenue Securities Broker Jeffrey Dixson Named in Numerous GPB Investor Fraud Claims

Published on: June 4, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Former Vancouver, Washington Financial Adviser Has 21 Disclosures On Record Jeffrey Raymond Dixson, an ex-Madison Avenue Securities investment advisor and stockbroker, is the subject of at least 10 Financial Industry Regulatory Authority (FINRA) arbitration claims in which the customers are seeking damages for their GPB private placement losses. The investments were issued by GPB Capital […]

Ongoing Concerns About GPB Auto Group’s Ability to Survive

Published on: May 20, 2021 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital’s Auto Group has released more bad news about the financial condition of the company and the likelihood that it can continue as a substantial concern. Specifically, the New York-based private equity firm, GPB Capital Holdings, LLC produced recent filings with the Securities and Exchange Commission which included additional financial information. The parent company […]

Ex-SagePoint Financial Broker Dan Dillard Sold GPB Private Placements to Customers

Published on: May 13, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Former Texas Stockbroker Founded Nest Financial in Austin Our GPB private placement lawyers are investigating investment losses suffered by former customers of ex-SagePoint Financial registered representative, Daniel G. Dillard. Although he is no longer a registered broker, Dillard remains a registered investment advisor and the founder of Nest Financial in Austin. He is currently named […]

Geneos Wealth Management Named in $1M GPB Investor Fraud Claim

Published on: March 30, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Brokerage-Dealer Accused of Unsuitable Investment Recommendation In Three GPB Funds Geneos Wealth Management, a Denver, Colorado-based brokerage firm, is accused of inappropriately recommending that a customer invest in three GPB Capital funds: The GPB Holdings II LP, the GPB Automotive Portfolio, and GPB Waste Management. The investment fraud claim contends that the broker-dealer invited GPB […]

Advisor Group Broker-Dealers Named in GPB Capital Fraud Claims Raised Their Legal Reserves

Published on: March 19, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Customers of Sagepoint Financial, Royal Alliance Associates, and FSC Securities Have Suffered Losses in the GPB Funds According to InvestmentNews, three Advisor Group brokerage firms raised their reserves for expected “legal and regulatory matters” by up to three times last year. The firms disclosed this information in their 2020 Focus Reports, which are financial statements […]

GPB Capital Notifies Investors of Independent Monitor But Denies Ponzi Fraud Allegations

Published on: March 9, 2021 | by Shepherd Smith Edwards & Kantas, LLP

SEC Requested Monitor to Protect GPB Fund Investors In a letter dated March 3rd, 2021, to all investors of its limited partnerships, CFO and interim CEO of GPB Capital Holdings, Rob Chmiel, notified investors that the firm has consented to a court-appointed independent monitor by the SEC to run the company and oversee its assets. […]

Atria Wealth Solutions to Acquire SCF Securities Which Sold GPB Investments

Published on: March 3, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Wealth Management Firm Also May Have Sold ARC NYC REIT, NorthstarHealthcare Income REITs, and Other Illiquid Securities Wealth management solutions holding company, Atria Wealth Solutions, Inc. recently announced that it is acquiring SCF Securities, which is a brokerage firm based in Fresno, California. Also included in the acquisition will be SCF Investment Advisors, Inc. and […]

SEC Seeks Court-Appointed Monitor To Protect Investors Victimized In Mass GPB Capital Ponzi Scam

Published on: February 12, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Regulator Wants to Prevent Alternative Asset Firm From Causing Investors More Financial Harm In U.S. District Court for the Eastern District of New York in Brooklyn, the Securities and Exchange Commission (SEC) has submitted a court filing asking that a monitor be appointed to prevent GPB Capital Holdings, LLC from committing more alleged misconduct and […]

GPB Capital Fraud Case Against Arete Wealth Management Results In $515K Arbitration Award

Published on: February 8, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Claimants Had Alleged Negligence, Poor Supervision, and Other Charges A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded one customer and his trust $515K in their GPB private placement fraud claim against Arete Wealth Management. The Chicago-based brokerage firm also has been ordered to pay all of the claimant’s legal fees. The award is […]