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CST: 20/11/2019 01:02:12   

GPB Capital Investor Alert! Shepherd, Smith, Edwards & Kantas Files Claim Against Kalos Capital and Advisor Joshua Stivers for GPB Capital Investment Losses

111 Days ago

AUSTIN, Texas, July 31, 2019 (GLOBE NEWSWIRE) -- Lawyers with Shepherd, Smith, Edwards, & Kantas (“SSEK Law Firm”) have filed a claim through the Financial Industry Regulatory Authority (“FINRA”) against Kalos Capital, Inc. (“Kalos Capital”) and its financial advisor Joshua Daniel Stivers (“Stivers”) on behalf of an investor who has sustained significant investment losses as a result of relying on her investment advisor’s recommendation to invest in GPB Capital Holdings, LLC (“GPB Capital”), specifically GPB Holdings II, LP.  Through his branch office, operating under the name Platinum Wealth Advisory, Stivers contacted prospective clients and, on information and belief, invested and over-concentrated their financial portfolios in private placements such as GPB Capital.  GPB paid large commissions to financial advisors, sometimes between 7% and 10%; industry standard is 5% or less. 

GPB Capital is at the epicenter of several current, on-going investigations by various state and federal investigators, along with the FBI, over allegations of questionable accounting and sales practices as well as inaccurate disclosures to investors.  The investigation was triggered over a year ago, in April 2018, when GPB Capital first missed important filing deadlines with the SEC.  Since that time, staggering amounts of bad news for investors in GPB Capital has come to light.  In June 2019, GPB Capital finally confirmed that investors in its funds had lost between 25% and 73% of their money, with the two largest funds, GPB Automotive Portfolio and GPB Holdings II, losing 39% and 25.4% respectively.

Private placement investments are less liquid than publicly traded investments and are generally considered riskier than publicly traded fixed income investments.  These products are not acceptable even for an investor with a conservative bent that is deemed as an “accredited investor”.  This is especially true if the investor had a large portion of their liquid assets in GPB.

If you are a GPB investor, contact the SSEK Law Firm for a free, confidential evaluation of your situation and to learn your options.  We have a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law.

Contact Info:  800-259-9010

Kirk Smith: ksmith@sseklaw.com

Sam Edwards: sedwards@sseklaw.com

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