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Articles Tagged with LP

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Investors in Energy 11, L.P. (“Energy 11” or the “Partnership”) may be able to recover investment losses through FINRA arbitration. if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.

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Energy 11 has published an estimated per common unit  net asset value (NAV) of its common units of $7.23 per unit as of December 31, 2020.  On January 25, 2021, the Partnership filed a Form 8-K with the Securities and Exchange Commission announcing the drop in estimated NAV and explaining its assumptions and valuation methodology.

The Form 8-K is accessible here Form 8-K.

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As we previously reported, the U.S. Securities and Exchange Commission (“SEC”), Financial Industry Regulatory Authority (known as “FINRA”), the FBI, and the State of Massachusetts are investigating GPB Capital Holdings LLC (“GPB”) in probes reportedly concerning the accuracy of GPB’s disclosures of financial information to their investors.  GPB, a New York asset management firm, focused on private placement investments, has reportedly been under investigation by Massachusetts since September 2018.

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According to public documents filed with the SEC, there are approximately 80 broker-dealers that may have sold, or were authorized to sell investments for GPB.  As registered broker-dealers, any firms who actually sold GPB securities were required to conduct adequate due diligence in investigating potential investments and also to ensure their clients understood the risks associated with any GPB potential investment.

The broker-dealers who appear in the SEC filings for GPB offerings are listed below.  It is important to note that none of these broker-dealers has been found to have engaged in any wrongdoing.

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