Have you suffered investment losses in a Odyssey limited partnership or secured note investment? If so, The White Law Group may be able to help.
The White Law Group is investigating potential securities fraud claims on behalf of investors in Odyssey limited partnerships. Specifically, the firm is reviewing the liability that brokerage firms and financial professionals may have for recommending that investors purchase these risky investments.
Apparently, Odyssey Operating Partnership II, Ltd., raised $30 million from investors through the sale of limited partnership units. Additionally, Odyssey Residential, Inc.; Odyssey Residential II, LLC; Odyssey Properties III, LLC; and Odyssey Diversified VI, LLC, collectively raised in excess of $69 million from investors through the sale of secured notes.
Certain of these investments have under-performed, and Odyssey Diversified IX recently declared Chapter 11 bankruptcy in the Florida Middle Bankruptcy Court.
Limited partnerships like Odyssey involve substantial risks and are only appropriate for sophisticated investors.
Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor. It appears that many brokerage firms failed to perform the necessary due diligence with respect to Odyssey Partnership investments prior to recommending them to their clients.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Odyssey Operating Partnership investment, please contact The White Law Group 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 Vero Beach, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.