ICON ECI Fund 16 Investment Losses
Have you suffered losses investing in ICON ECI Fund 16 ? If so, the securities attorneys of The White Law Group may be able to help you recover your losses in a FINRA arbitration claim against the brokerage firm that recommended the investment.
ICON ECI Fund Sixteen is an equipment focused credit fund that seeks to make debt and debt-like investments in domestic and international, public and private companies in asset-intensive industries. These investments will be collateralized by the equipment and corporate infrastructure, or collectively the “Capital Assets,” of a company that are deemed crucial to that company’s operations.
Unfortunately for investors, according to the SEC’s Edgar database, on June 9, 2016, ICON Capital, LLC, the Investment Manager of the Registrant, notified the registered representatives of the shareholders of the Registrant that the Registrant’s distribution rate will change effective July 2016. Could this be the first warning sign for ICON ECI Fund 16 investors?
Update on April 3, 2019
According to recent filings from the SEC, the company states that the Estimated Value per Interest as of December 31, 2018 (the “Valuation Date”) has been determined to be $186.63 per Class A Interest and $186.63 per Class I Interest. This may be bad news for investors as the original offering price was $1,000/unit.
The White Law Group is investigating the liability that brokerage firms may have for recommending high risk alternative investments like ICON ECI Fund 16.
Brokerage firms that sell such products are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to evaluate whether the investments are suitable in light of the client’s age, net worth, investment experience, and investment objectives. Firms that fail to perform adequate due diligence, or that make unsuitable recommendations, can be held responsible for losses in a FINRA arbitration claim.
Recovery of Investment Losses
If you suffered losses investing in ICON ECI Fund 16 and would like a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.