Should You File a FINRA Arbitration Claim Over Private Placement Sale Losses?

Broker-Dealer Negligence Alleged Related To Investor Losses Tied to GPB Auto and GPB Holdings II

Should You File a FINRA Arbitration Claim Against Sanctuary Securities Over Your GPB Private Placement Sale Losses?

If you are someone whose Sanctuary Securities broker recommended that you invest in GPB Capital Holdings private placement funds, you may be able to file a Financial Industry Regulatory Authority arbitration claim or FINRA arbitration claim for your losses. The broker-dealer is one of the dozens of US-based firms accused of unsuitably recommending and selling GPB Capital Holdings private placement shares, in particular those involving GPB Automotive Portfolio, LP, and GPB Holdings II, LP, to customers.

GPB is now facing criminal and regulatory allegations that it ran a more than $1.7B Ponzi scam that defrauded at least 17,000 investors. Many of the victims, including retirees and other conservative investors, should never have been sold shares in the GPB Funds. Now, they are scrambling to recover damages.

FINRA contends that Sanctuary Securities allegedly committed brokerage firm negligence when it purportedly did not tell eight investors that GPB had failed to submit required financial filings to the US Securities and Exchange Commission (SEC) in a timely manner. These Sanctuary customers purchased some $600K in GPB private placement funds in June 2018, which earned the financial firm about $48K in commissions.

Sanctuary Securities has consented to pay partial restitution of $48K in addition to interest.

Why Work With Skilled Brokerage Firm Arbitration Lawyers And File Your Own FINRA Arbitration Claim? 

Even though the SEC filed a civil lawsuit and the US Justice Department brought criminal charges—and class actions securities fraud litigation were submitted against GPB Capital—it is unlikely that you will obtain substantial financial recovery through these types of cases. This is why it is so important that you speak with knowledgeable stockbroker negligence

attorneys to explore your legal options, including whether your GPB Fund losses warrant grounds for a viable claim for damages.

Shepherd Smith Edwards and Kantas are representing investors over their GPB investment losses in FINRA arbitration. Our expert FINRA lawyers have the skills, experience, and resources to go after even the biggest firms on Wall Street.

Filing a FINRA Arbitration Claim that proves stockbroker negligence was a factor can be extremely challenging, which is why you need seasoned securities lawyers who are knowledgeable about the arbitration process on your side. Over the years, we have recovered many millions of dollars for our clients. Call Shepherd Smith Edwards and Kantas at (800) 259-9010 today.