Concerned about investment losses in Icon Leasing Fund 12?
Have you suffered losses investing in Icon Leasing Fund 12? If so, the attorneys at The White Law Group may be able to help you recover your losses through FINRA arbitration.
According to a letter to shareholders, Icon Leasing Fund Twelve announced that the Fund will officially close and enter a liquidation period effective April 30, 2014. The letter also states that “the amount and timing of future payments will fluctuate” as the company”s assets are sold.
Icon Leasing Funds Eight and Ten are also currently in a liquidation period. Upon information and belief, Icon Fund Nine has completed its liquidation period and investors are unlikely to receive further payments.
According to Bloomberg, Icon Leasing Fund Twelve acquired and leased equipment in the fields of marine vessels and equipment, manufacturing equipment, mining equipment, telecommunications equipment, and gas compressors to name a few.
Given the current state of the aforementioned Funds, it appears that investors may have suffered losses. It also appears, based on information gleaned from investors in these funds, that some broker-dealers failed to perform adequate due diligence on these investments. Broker-dealers have a responsibility to perform due diligence on any offering and to have a reasonable basis for any investment recommendation.
Brokers-dealers that make unsuitable investment recommendations or fail to perform adequate due diligence may be in violation of securities law enforced by the Financial Industry Regulatory Authority (FINRA). If you purchased an ICON Fund that you believe was not in line with your risk tolerance, investment experience and/or investment objectives, your broker-dealer may be liable for investment losses through FINRA arbitration.
To determine if your broker-dealer may be liable for your investment losses in DBSI TIC, please call the securities attorneys of The White Law Group at 888-637-5510 for a free consultation.
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.
To learn more about The White Law Group, visithttp://www.whitesecuritieslaw.com