GPB Capital Reportedly Delays K1s for Investors in GPB Automotive Portfolio LP
Have you suffered losses investing in GPB Automotive Portfolio LP?
The White Law Group is continuing its investigation into the liability broker dealers may have for improperly recommending GPB Automotive Portfolio LP to investors.
According to an article in Investment News yesterday, on January 23 GPB Capital Holdings, Inc. sent a letter to investors of one of its largest funds informing them that the company would not be providing Schedule K-1 tax forms in time for the tax filing deadline of April 15.
This probably won’t come as a surprise to many GPB investors, as the company is reportedly still under investigation by the FBI, the SEC and FINRA, and has repeatedly failed to file financial reports with the Securities and Exchange Commission.
Further, last June the firm reportedly announced that GPB Automotive Portfolio LP and GPB Holdings II LP share prices declined as much as 73%. Since a schedule K1 is an indicator of how much investors have profited or lost for the calendar year, investors will still have no idea what their GPB investments are worth.
According to the Form D, the company has raised capital from over 6,000 investors and the total offering amount purportedly sold was $622,143,273. Sales commissions and fees paid on the offering are reportedly estimated at close to 9%.
Recovery of Investment Losses
The White Law Group continues its investigation into the liability that FINRA-registered broker-dealers may have for recommending GPB offerings to investors.
Aside from the various problems with the company, private placement investments such as GPB Capital offerings are highly complex, high risk investments. They are only suitable for sophisticated, accredited investors and institutions.
If you have suffered losses in GPB Automotive Portfolio LP, please call the securities attorneys at The White Law Group for a free consultation at 888-637-5510.
This information is all publicly available and provided to you by The White Law Group.
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 Franklin, Tennessee. For more information on the firm and its representation of investors, visit https://www.whitesecuritieslaw.com.