Atlantas Group

Broker-Dealers May Have Unsuitably Sold This Risky Investment To Retail Customers and Retirees

If your broker recommended that you purchase shares in Atlas Growth Partners, LP, you may be able to file a Financial Industry Regulatory Authority (FINRA) arbitration claim against the broker-dealer. Unfortunately, according to the limited partnership’s filings with the US Securities and Exchange Commission (SEC), Atlas Growth investors may have lost nearly 99% of their principal. Not only that, but after raising more than $230M from thousands of investors, as of March 31, 2021, the company was only able to report net assets of under $4M. This means that Atlas Growth investors could be looking at more than $200M in losses.

Our Texas oil and gas securities lawyers at Shepherd Smith Edwards and Kantas (investorlawyers.com) are working with Atlas Growth Partners investors, including many retail investors and retirees, that were unsuitably sold shares in this company. Please contact us today at (800) 259-9010 so that one of our securities attorneys can help you explore your legal options.

Atlantas Group Inc. and hits owner and president Edmund Hysni have reached a $7.2M settlement with the U.S. Commodity Futures Trading Commission. The money is restitution and civil penalty to settle charges of solicitation fraud and the purported making by Hysni of material false statements to the National Futures Association.

According to the CFTC order, between ’06 and ’12 Atlantas and Hysni falsely represented to customers that they would be giving back about 300% of customers’ initial investments, their investment strategy was conservative and safe, and their performance history was a successful one. The charges against the firm and Hysni are related to options on futures contracts trading that took place on the Commodity Exchange and the Chicago Board of Trade.

The regulator said that contrary to the misrepresentations, Hysni and Atlantas invested clients’ funds in an out-of-the-money option spread that caused customers to suffer financial losses. Also, Atlantas is accused of collecting about 90% of clients’ losses in commissions while misrepresenting the impact of the commissions. The commissions, said the SEC, affected customer losses and profits, the trading strategy used, and how much Atlantas charged customers.

Articles Tagged with Atlantas Group

Atlas Growth Partners Investors May Be Able To Recoup Losses

Broker-Dealers May Have Unsuitably Sold This Risky Investment To Retail Customers and Retirees

CFTC Orders Atlantas Group and Its owner to Pay $7.2M in Restitution and Civil Penalties to Settle Solicitation Fraud and False Statement Charges