TNP Attempts to Restructure Debt

Friday, August 22nd, 2014

Have you purchased investments with Thompson National Properties (TNP)? If so, the following information may be of value to you.

According to InvestmentNews,Tony Thompson and his company are offering to exchange TNP notes for a new stock venture. Last month, TNP pitched the idea to investors as part of a plan to restructure $50 million of debt and avoid potential bankruptcy.

According to the offering memorandum, InvestmentNews wrote, “TNP ‘has determined that it does not have the capacity to remain in business under its significant current debt load and believes it is in the best interest’ of TNP and the note holders to restructure the debt to exchange the notes for preferred equity.”

While this may provide investors an opportunity to get their money back, The White Law Group continues to investigate the liability some brokerage firms may have for recommending TNP notes to clients. Brokerage firms are required to perform adequate due diligence to ensure that the investment has a reasonable likelihood of success and that the investment is suitable for each individual. When brokerage firms fail to uphold their fiduciary duty or misrepresent an investment they may be liable for investment losses.

If you feel that your broker-dealer misrepresented your TNP investment, the securities attorneys of The White Law Group may be able to help you recover your losses. For a free consultation please call 312-238-9650.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

To learn more about The White Law Group, visit www.WhiteSecuritiesLaw.com.

Tags: , , , , , , , , , , , , , , ,

Recovery of Investment Losses in Catalyst Energy

Thursday, August 21st, 2014

Have you suffered financial losses as a result of your purchase of a Catalyst Energy Limited Partnership? If so, The White Law Group may be able to recover some of your losses in a FINRA arbitration claim against the brokerage firms that recommended the investment.

According to there website, Catalyst Energy, Inc. specializes in the development of oil and natural gas resources in the Appalachian region of northwestern Pennsylvania. In recent years, Catalyst Energy has offered multiple limited partnerships.

Unfortunately, certain brokerage firms may have failed to adequality disclose the risks associated with the investment. Limited partnerships, especially oil and gas interests, are complex high risk products that often lack liquidity. It appears that some brokers downplayed the risk and mislead investors into thinking these were “safe” investments.

Compared to exchanged traded investments such as stocks or bonds, limited partnerships offer extremely high sales commission. Often this provides some brokers with enough incentive to overlook suitability requirements when selling partnership units. Broker dealers that sold Catalyst Energy 2012-1 earned a sales commission of approximately 5%, according to the SEC files.

Broker dealers that overlook the FINRA suitability requirements or mislead investors regarding risks can be liable for investment losses through FINRA dispute resolution.

To determine whether you may be able to recover investment losses incurred as a result of your purchase of a Catalyst Energy limited partnership, please contact The White Law Group at 312-238-9650 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.

For more information on The White Law Group, please visit our website at www.WhiteSecuritiesLaw.com.

Tags: , , , , , , , , , , ,

Recovery of Geneva Exchange Fund TIC Losses

Wednesday, August 20th, 2014

Have you suffered investment losses in a Geneva Exchange Fund tenant-in-common (TIC)? If so, The White Law Group may be able to help you recover your losses through a FINRA arbitration claim against the brokerage firm that recommended the investment.

According to SEC filings, there are multiple Geneve Exchange Funds that offered tenant in common interests. The Minnesota based limited liability companies (LLC) provided investors the opportunity to invest in residential and commercial real estate.

Many investors are attracted to the potentially high returns offered by TICs, especially retired investors seeking a source of income. Unfortunately, TICs are high risk, speculative investments and arguably unsuitable for most investors since the TICs performance and ability to make distributions to investors is dependent on the underlying real estate property and the overall health of the real estate market.

Brokerage firms that sell TICs, like Geneva Exchange Fund, have a fiduciary duty to recommend investments that are in line with the client’s investment objectives, risk tolerance, age, net worth, investment experience, and liquidity needs. In addition, brokerage firms are required to adequately disclose all the risks associated with any given investment, and to perform adequate due diligence to determine if the investment has a reasonable likelihood of success.

To determine whether you may be able to recover investment losses incurred as a result of your purchase of a risky TIC 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, visit www.WhiteSecuritiesLaw.com.

Tags: , , , , , , , , ,

Investigation into CORE Series 2007 8% Secured Debentures

Wednesday, August 20th, 2014

Did you invest in CORE Series 2007 8% Secured Debentures? If so,The White Law Group may be able to help you recover your investment losses.

In a letter to shareholders, CORE announced that three apartment complexes, the primary collateral for the Debenture, have been foreclosed upon. The letter states, “Core will not be in a position to repay the debentures at this time. The letter went on to say that “repayment of the Debentures in full is only a remote possibility. ”

The White Law Group is investigating the liability that some brokerage firms may have for selling CORE investments to clients. Brokerage firms that solicit private placements, like CORE, are required to perform adequate due diligence to ensure the investments likelihood of success, and that investment recommendation are suitable for each individual investor. The investment should be in line with regulatory guidelines that include the client’s age, risk tolerance, net worth, and investment experience. If a broker fails to make suitable investment recommendations or fails to perform adequate due diligence, they may be liable for investment losses.

Private placements are typically high risk securities products that often lack liquidity. Despite the inherent risk associated with private placements, some brokers eager to make a sale, often tout the potential for high returns and downplay the risks. Private placements are arguably unsuitable for most investors and generally intended for sophisticated and institutional investors.

If you suffered losses investing in CORE realty and would like to speak to a securities attorney to discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on the firm, visit www.WhiteSecuritiesLaw.com.

Tags: , , , , , , , , ,

FINRA panel awards damages to broker in promissory note case.

Wednesday, August 20th, 2014

According to reports, a former Morgan Stanley broker was ordered to repay almost $1 million in a promissory note case but managed to prevail on a counterclaim and was awarded $100,000 in damages.

The report indicates that the counterclaim was largely based on allegations that Morgan Stanley promised to keep an office in Sun Valley, Idaho when they recruited the broker to the firm.

The award represents a rare victory for brokers as statistics indicate that financial advisors lose note cases approximately 90% of the time, according to an analysis by Securities Arbitration Commentator Inc., an award research service.

Promissory note cases are a common form of FINRA litigation, arising when a broker leaves a firm before the full amount of a forgivable loan agreement has been forgiven.

The White Law Group routinely represents advisors in promissory note claims involving their former employer, helping these advisors to either negotiate an agreeable settlement or litigate counterclaims based on the brokerage firms failure to deliver on recruiting promises.

For more information on FINRA promissory note claims and The White Law Group’s representation of brokers in these cases, visit http://www.whitesecuritieslaw.com/2010/06/23/financial-advisor-promissory-note-litigation-representation/.

The White Law Group is a national securities arbitration law firm with offices in Chicago, Illinois and Vero Beach, Florida.  For a free consultation with a securities attorney, please call the firm’s Chicago office at 312/238-9650.

For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.

Tags: , , , , , , , , , ,