Did you purchase limited partnership interests in Argus Income/Growth Fund? If so, the White Law Group may be able to help recover your investment losses through FINRA dispute resolution.
According to filings with the Securities and Exchange Commission (SEC), Argus Growth/Income Fund was organized in 2004 and began offering limited partnership interests and 81/4% participating notes to investors in 2005.
Many investors who purchased Argus Growth/Income Fund may not have been aware of the risks associated with limited partnerships. Limited partnerships are complex, high-risk products that are arguably unsuitable for most investors. Unfortunately, some brokers downplay the risk and mislead investors into thinking these are “safe” investments, when in fact most limited partnerships are intended for sophisticated and institutional investors.
According to OC Weekly, a number of investors filed a civil lawsuit against Argus Realty, Argus Realty Investors and several affiliated companies alleging that “The sponsors and entities behind this offering gorged themselves on unconscionable fees and costs associated with the offering and the management of the properties while placing the investors in a hopeless, fraudulent investment structure that had no chance of providing a reasonable return.”
The White Law Group is investigating the liability that brokerage firms may have for recommending these investments. Brokerage firms have a fiduciary duty to perform adequate due diligence to determine that investments have a reasonable likelihood of success.
Furthermore, brokerage firms are required by FINRA to make suitable investment recommendations to clients. The investors’ age, risk tolerance, net worth, investment experience and other factors should be taken into account in order to determine whether a particular investment recommendation is suitable.
Brokers that overlook FINRA suitability requirements or mislead investors regarding risks can be liable for investment losses through FINRA arbitration.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of a Argus Income/Growth Fund, 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.
To learn more about the firm, please visit www.WhiteSecuritiesLaw.com.