Silver Law Group has filed a FINRA arbitration claim against Westpark Capital, Inc. (CRD# 39914) and its brokers, Adam D. Brown (CRD# 4506309) and John A. Orlando (CRD# 2002197) for recommending the private placement investment Horizon Select Technology Fund.
The Horizon Select Technology Fund is a private placement investment that purportedly purchases stock of pre-IPO companies in order to profit once the companies registers its shares with a public exchange. According to Orlando, our client was getting shares of Palantir Technologies.
The Horizon Select Technology Fund was structured as a limited partnership in which investors would receive a limited partnership interest in exchange for their investment.
Orlando and Brown sold a membership interest in the Horizon Select Technology Fund in or around 2015 to our client and misrepresented the probability of success. Orlando and Brown represented that the company owned and was acquiring shares of Palantir would go public and, consequently, our client’s money would become liquid in approximately two (2) years.
Unfortunately, such would not be the case, as Palantir has not gone public, and there are no imminent plans to do so. Now, due to Orlando and Brown’s misrepresentations, our client has lost a significant amount of money.
Orlando and Brown initially offered the Horizon Select Technology Fund through Newport Coast Securities, Inc. Orlando and Brown were hired by Westpark Capital when the brokerage firm entered into an agreement to acquire a portion of Newport Coast and some of its registered representatives in July 2016.
According to Orlando’s FINRA BrokerCheck report, Orlando lists the Horizon Select Technology Fund as well as the Horizon Select Management, a general partner and manager of the Horizon Select Technology Fund, as outside business activities. Further, the Horizon Select Technology Fund 2 is listed with Westpark Capital listed in conjunction with it.
Contact Our Firm if You’ve Lost Money Investing with Westpark Capital
If you’ve lost money investing with John A. Orlando, Adam D. Brown, Westpark Capital or the Horizon Select Technology Fund, contact our attorneys to learn how we can try and recover your losses.
Contact our firm today to discuss your legal rights. We work on a contingency fee basis, meaning we only get paid if we recover money for you.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. Please contact Scott Silver of the Silver Law Group for a free consultation at firstname.lastname@example.org or toll free at (800) 975-4345.