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, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
To learn more about The White Law Group, visit www.WhiteSecuritiesLaw.com.