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Investigation announced for Investors with GPB Capital Holdings, LLC

08-13-2019 09:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

Investors of GPB Capital Holdings, LLC have certain options and should contact the Shareholders Foundation.

Investors of GPB Capital Holdings, LLC have certain options and should contact the Shareholders Foundation.

The investigation by a law firm focuses on whether certain statements by GPB Capital Holdings, LLC regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

GPB Capital is a New York-based alternative asset management firm that seeks to acquire income-producing private companies. GPB Capital Holdings, LLC describes itself as a "New York-based alternative asset management firm that seeks to acquire income-producing private companies." GPB Capital Holdings, LLC raised more than $1.5 billion in capital held in private limited partnerships that invest primarily in auto dealerships and waste management businesses. Interests in GPB funds were sold through independent broker-dealer.

In November 2018 GPB Capital Holdings, LLC disclosed that its auditor, Crowe LLP, had resigned. The auditor allegedly refused to provide a clean audit opinion due to undisclosed related-party transactions and other irregularities uncovered in the Company's books and records.

GPB Capital is the subject of investigations by the SEC, the FBI, the Financial Regulatory Authority ("FINRA"), and Massachusetts and New York regulators.

On June 21, 2019, GPB Capital Holdings, LLC reported significant losses in the value of GPB Holdings II and GPB Automotive Portfolio, which declined more than 25% and 39%, respectively. GPB Capital Holdings, LLC's other funds reported declines in estimated value ranging from 25% to 73%.

Investors of GPB Capital Holdings, LLC have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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