The Parking REIT (MVP REIT II) Withdraws $100 million IPO

The Parking REIT (MVP REIT) Lawsuits, Featured by Top Securities Attorneys, The White Law GroupThe Parking REIT (MVP REIT II) Lawsuits

Are you concerned about your investment in The Parking REIT? If so, the securities attorneys at The White Law Group may be able to help you.

The Parking REIT, Inc. (formerly known as MVP REIT II, Inc.) is a publicly registered, non-listed REIT that invests primarily in parking lots and garages in the United States.  Its assets include 44 parking facilities located in 15 states.

As we told you previously on March 22, 2018, the board of non-traded REIT suspended the company’s cash distributions and stock dividends.

According to SEC filings last week, The Parking REIT, Inc. has withdrawn its registration statement that was filed on October 5, 2018.

The company originally filed a preliminary prospectus with the SEC to raise up to $100 million in an initial public offering, but said that it “believes the withdrawal to be consistent with the public interest and the protection of investors.”

The REIT reportedly planned to use proceeds from the IPO to repay approximately $9.1 million in debt, and for general corporate and working capital purposes.

Although the REIT approved an estimated net asset value per share of $25.10 on May 15, 2019, shares have been sold at a secondary price of just $14.01 per share.

The original offering price was $25.00 per share.

The Risks of Non-traded REITs

Non-traded REITs are complicated and often risky investments which should only be sold to high-net worth and sophisticated investors.

The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly selling high-risk REITs, like The Parking REIT, to investors.

Notwithstanding the risks of investing in REITs, brokerage firms continue to push this type of investment because of the high commissions associated with their sale and creation.  Brokerage firms generally make between 7-10% for selling a REIT, which is far in excess of the typical commission for more traditional investment types.

To speak with a securities attorney regarding your investment in a The Parking REIT or MVP REIT II, please call The White Law Group at (888)637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on The White Law Group, visit the firm’s website at https://www.whitesecuritieslaw.com.

 

UBS Yes | UBS Yield Enhancement Strategy Lawsuits

UBS YES Lawsuits, Featured by Top Securities Fraud Attorneys, The White Law GroupUBS Yield Enhancement Strategy (UBS YES) Investment losses

The White Law Group is continuing its investigation of broker dealers who may have unsuitably recommended UBS Yield Enhancement Strategy to investors.

According to an article in Financial News this week, Yield Enhancement Strategy, or YES, has reportedly generated at least $60 million in losses for clients and more than two dozen customer complaints thus far.

The Yield Enhancement Strategy is an option-based trading strategy, designed “to generate returns through the strategic sale and purchase of SPX index option spreads,” according to UBS.

UBS offered the Yield Enhancement Strategy typically to high net worth investors who were required to allocate a minimum Mandate to the UBS YES program.

According to reports, UBS Yield Enhancement Strategy investors have suffered substantial losses in their portfolios. While some investors are expressing serious concerns, the losses are reportedly continuing to increase.

Unfortunately, it appears that some UBS YES investors were asked to provide additional collateral and/or are facing margin deficits.

Others reportedly were not able to get out of the Yield Enhancement Strategy programs, and could be facing catastrophic losses.

YES Investors may have claims.

The White Law Group is investigating potential securities fraud claims involving broker dealers who may have unsuitably recommended UBS Yield Enhancement Strategy to investors.

If you have suffered losses investing in UBS YES, please contact the securities attorneys at The White Law Group.  For a free consultation, please call the offices at 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states. Our attorneys have recovered millions of dollars from many brokerage firms in the past, including UBS.

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.

 

 

 

TG Therapeutics Inc. Investigating Claims

TG Therapeutics Inc. Investigation, Featured by Top Securities Fraud Attorneys, The White Law GroupTG Therapeutics Inc. (fka Manhattan Pharmaceuticals) Securities Investigation

Are you concerned about your investment losses in TG Therapeutics Inc.?

The White Law Group is investigating potential securities fraud lawsuits involving the liability that brokerage firms may have for unsuitably recommending TG Therapeutics Inc. to investors.

According to its website, TG Therapeutics, Inc. (Nasdaq:TGTX) is a clinical-stage biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and other therapeutic needs.

According to SEC filings, TG Therapeutics filed a Form D to raise capital from investors in 2012 and then in July 2013, the company reportedly announced the pricing of an underwritten public offering of 5,700,000 shares of its common stock at a price of $6.15 per share.

Deep Decline in Share Price

According to Yahoo finance, the company’s share price was down a total of 57%, against a market gain of about 3.5%, as of March 2019 for the prior 12 months period.

Last September, the company’s share price reportedly declined 44% after disappointing results in the company’s Unity-CLL clinical trial.  According to reports, the problem stems from Unity-CLL’s inability to show an improvement in overall response among chronic lymphocytic leukaemia (CLL) patients given TG’s combo at interim review. This was the result that TG had instructed the markets to look for, saying a positive result might have served as the basis for immediate US accelerated approval filing.

Free Consultation with a Securities Fraud Attorney

Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms may be held responsible for any losses in a FINRA arbitration claim if they fail to perform active due diligence before recommending any investment.

If you have suffered losses in TG Therapeutics, the securities attorneys at The White Law Group may be able to help you. Please call the offices at 888-637-5510 for a free consultation.

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.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.

 

 

 

Armada Waste Management Investment Losses

Armada Waste Management LP, Featured by Top Attorneys, The White Law Group

GPB Capital’s Offering Armada Waste Management Declines in Value

According to reports on Friday, GPB Capital sent a document to broker-dealers on June 22, letting them know of a steep decline in value of its private placement offerings, including Armada Waste Management, LP.

GPB reportedly raised $1.8 billion from wealthy investors through sales of high-risk private placements from registered brokers and their firms while collectively earning $167 million in fees and commissions for the transactions.

On average, advisors and their firms collected 9.3% in commissions through the sale of GPB private placements.

Unfortunately for investors, these investments have dropped significantly in value.

In particular, investors bought $163.4 million of Armada Waste Management, but according to report, the current estimated value of the fund is $53.4 million.

Thus, an investment of $50,000 in Armada Waste Management has reportedly dropped in value 67.4%, and is now worth $16,330.

FINRA Lawsuits

The White Law Group continues its investigation into the liability that FINRA registered brokerage firms may have for improperly selling alternative investment products like GPB’s Armada Waste Management LP to investors.

Private placements are a means for companies to raise capital through the sale of equity or debt securities without having to register their securities with the SEC. These investments are often riskier and more complicated than traditional investments, and are only suitable for high net worth, sophisticated investors.

Broker dealers are required to perform adequate due diligence on any investment they recommend. They must ensure that all recommendations are suitable for the investor. Recommendations should be in line with the investor’s age, risk tolerance, net worth, and investment experience.

Despite the risks of investing in this type of alternative investments, brokerage firms continue to push this type of investment because of the high commissions associated with their sale and creation.

If you are concerned about your investment in Armada Waste Management LP or another GPB Capital private placement offering and would like to speak with a securities attorney about your options, please call The White Law Group at 888-637-5510 for a free consultation.

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.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.

Benjamin Bourgeois Jr. Broker Investigation

Benjamin Bourgeois Jr. Broker Investigation, Featured by Top Attorneys, The White Law Group

FINRA Bars Benjamin Bourgeois Jr. – Commonwealth Financial Network

Have you suffered losses investing with former financial advisor Benjamin Bourgeois Jr.? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Financial Industry Regulatory Authority (FINRA), the regulator reportedly barred Bourgeois from association with any FINRA member in any capacity after he purportedly failed to provide information in an investigation into his conduct.

FINRA was apparently investigating Bourgeois after he was reportedly discharged from his member firm, Commonwealth Financial Network on April 1, because he allegedly borrowed money from a client which is against FINRA rules. On April 5, Commonwealth filed an amended form U5 that reportedly disclosed a civil litigation in which a customer alleged that Mr. Bourgeois defrauded her and took her money.

Bourgeois, 52, was arrested last month after authorities say he allegedly stole more than $359,000 from a 78-year old. Charges reportedly include three counts of theft valued over $25,000, three counts of theft valued between $5,000 and $24,999, and six counts of bank fraud and exploitation of the infirm, according to the Jefferson Parish Sheriff’s Office in Metairie, LA.

According to his FINRA BrokerCheck report, Bourgeois was registered with Commonwealth Financial Network in Metairie, LA from May 2015 through April 2019. He reportedly has 3 customer complaints listed on his broker record since 2001.

Broker Fraud Investigation

The White Law Group is investigating the liability that Commonwealth may have for Bourgeois’ alleged actions.

If a registered broker breaks FINRA rules, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.

If you have invested with Benjamin Bourgeois Jr. and are concerned about your investments, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call our offices at 888-637-5510.

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 Vero Beach, Florida.

For more information on The White Law Group, please visit our website at https://www.wlgattorneys.com.