Have you suffered losses due to your investment in the LEAF Equipment Leasing Income Fund III or another LEAF fund? If you did, the attorneys of The White Law Group may be able to help you recover your investment losses through FINRA arbitration.
On behalf of concerned investors, our firm is currently investigating the sale of this investment product by brokerage firms and financial professionals and what representations were made about its risks and performance.
The LEAF Equipment Leasing Income Fund III LP is a fund that was publicly offered by LEAF Financial Corporation. LEAF Financial Corporation is a subsidiary of Resource America, Inc. (REXI). According to a 2008 release from Resource America, the public offering for the LEAF Equipment Leasing Income Fund III was completed within 14 months and raised $120 million.
The latest quarterly report from the LEAF Equipment Leasing Income Fund III LP for the period ending June 30, 2011, publicly available through the SEC, paints an uncertain picture of the future of the investment.
In the section of the report labeled “Management’s discussion and analysis of financial condition and results of operations” it states that due to “…the recession in the United States…” and “As a result of conditions in the credit markets…” the fund “…incurred net losses of $17.7 million, $28.8 million and $26.1 million for the years ended December 31, 2008, 2009 and 2010, respectively, and a net loss of $2.2 million for the three months ended March 31, 2011.”
As a result of the current financial difficulty the LEAF Equipment Leasing Income Fund III decided to “[reduce] distributions to limited partners from 8.5% annual cumulative return on each limited partner’s Adjusted Capital Contribution to 2.0% in August 2010.”
While the report remains optimistic about the future recovery of the fund, the numbers appear to be troubling for investors. Not only is the fund reporting to be losing money, but investors are also now being told that they will be receiving far smaller distributions.
If you are concerned about your investment in the LEAF Equipment Leasing Income Fund III or another LEAF fund and would like to speak to a securities attorney about your potential to recover your investment losses, please call our Chicago office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.