OAKLAND, Calif.–(BUSINESS WIRE)–$GPB #GPB–GPB Capital has informed investors that it will not release audited financial results by the end of 2019 and has announced that its internal audit committee would resign, according to media reports. Gibbs Law Group has filed numerous GPB legal complaints on behalf of investors against the brokerage firms that sold GPB investments.
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GPB’s refusal to release financial information comes just weeks after a GPB Capital executive was criminally charged for accessing compromising information about an ongoing SEC investigation into GPB Capital. Earlier in the year, it was reported that a number of legal authorities and regulators, including the SEC, FBI and FINRA, have launched investigations into GPB Capital. The company has been accused in several federal lawsuits of operating a Ponzi Scheme.
As for the value of GPB Capital investments, the company has still not revealed the true and current value of the funds for all of 2019.
GPB reportedly raised more than $1.8 billion in investor funds, and it has been reported that brokers received more than $100 million in commissions from selling investments in GPB funds to investors.
What Should GPB Investors Do?
Investors should not wait to take action. If you invested in a GPB fund, you may be able to recover your losses. Visit our website or contact our securities team directly at (888) 410-2925 to speak privately with a securities attorney to learn about your legal options.
About Gibbs Law Group
Gibbs Law Group is committed to protecting the rights of investors and consumers nationwide who have been harmed by corporate fraud and misconduct. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous awards for their work, including “Top Boutique Law Firms in California,” “Best Lawyers in America,” “Titans of the Plaintiffs Bar,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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