Prime Automotive | The Portland Press Herald | Edward D. Murphy | June 30, 2020 "A Texas law firm said Tuesday that investors have lost $1.8 billion by putting their money into a company that owns dozens of auto dealerships around the country, including nine in Maine. The allegations...
Class action lawsuit | Fort Worth Star-Telegram | Mitch Mitchell | June 30, 2020 "Lawyers are cautioning victims of an investment scheme that allegedly bilked more than 2,000 people out of $1.8 billion to take action. Anyone who invested with GPB Capital poured money into a Ponzi scheme, said...
GPB | WealthManagement.com | Diana Britton | June 30, 2020 "A flurry of claims were filed this week against brokerages and advisors who invested client money in GPB Capital, a New York-based private placement shop currently under investigation by the FBI and securities regulators. One law firm, Peiffer...
Prime | Boston Globe | Jon Chesto | May 27, 2020 "Allegations mirror some of the concerns raised by ousted CEO in his lawsuit against investment firm The investment firm whose takeover of the Prime group of auto dealers has turned into a messy dispute with its previous chief...
GPB | Automotive News | Melissa Burden | May 26, 2020 Toyota is demanding GPB Capital Holdings, the majority owner of Prime Automotive Group, sell all five of the retailer's Toyota dealerships. The ownership of Prime's three Volkswagen stores also is being debated in federal court. Toyota Motor Sales...
GPB | Investment News | Bruce Kelly | May 11, 2020 Astronomical fees and undisclosed conflicts of interest undermined investors in GPB Capital private placements from the start, according to an amended prospective class action lawsuit filed last week in federal court in Austin, Texas. Launched in 2013, GPB...
GPB | Portland Press Herald | Edward D. Murphy | May 11, 2020 "Toyota is stepping up a previous threat to terminate its business agreement with a Saco auto dealership’s owner and giving it an ultimatum to rehire an ousted former chief executive or hire a new...
GPB Capital news | Law 360 | Al Barbarino | April 30, 2020 Law360 (April 30, 2020, 9:28 PM EDT) -- A New York federal judge has postponed the trial of a former U.S. Securities and Exchange Commission compliance examiner accused of breaching classified government computer networks...
Auditors | Investment News | Bruce Kelly | March 13, 2020 Auditors should get back to work around the start of April Beleaguered investors who bought private placements managed by GPB Capital Holdings may be on track to get some clarity into the value of those funds. On Thursday, the...
Triad Advisors | Investment News | Bruce Kelly | March 11, 2020 "Legal woes are increasing for at least one broker-dealer that sold GPB Capital Holdings’ private placements. Triad Advisors is facing nine investor lawsuits alleging negligence on behalf of its advisers and representatives for selling the private investments,...