Silver Law Group Investigates Retail Ecommerce Ventures On Behalf Of Investors
Silver Law Group is investigating Retail Ecommerce Ventures (REV) on behalf of investors who say they haven’t been paid dividends, can’t withdraw their principal, and have been told that the company may be headed towards bankruptcy.
If you own shares in Retail Ecommerce Ventures, Silver Law Group may be able to help recover your investment losses. Contact us today for a no-cost consultation at 800-975-4345.
Retail Ecommerce Ventures (REV)
The business model of Retail Ecommerce Ventures (REV) is to buy the rights to a bankrupt brick and mortar retail business’s intellectual property and relaunch the brands as online-only ecommerce brands. According to their website, the company’s holdings include RadioShack, Pier 1, Stein Mart, Linens-N-Things, and Modell’s Sporting Goods.
To raise capital, Retail Ecommerce Ventures turned to retail investors across the country. REV Co-founders Alex Mehr, a founder of the dating app Zoosk, and Tai Lopez, a self-help author, advertised heavily on YouTube and made media appearances, including on CNBC.
According to investors Silver Law Group has spoken to, REV claimed investors could earn up to 25% annual return by investing in the company’s unregistered private placements.
REV claims to have raised over $260 million. By late 2022, investors stopped receiving payments and were solicited for more money to help them avoid bankruptcy.
In early 2023, retailer Tuesday Morning filed for Chapter 11 bankruptcy, which was only months after REV purchased a controlling stake in the company for $35 million. Many of REV’s brand websites appear to have limited or outdated merchandise for sale, and some sites look like they haven’t been updated regularly.
In December, 2021 REV claimed it would be relaunching RadioShack as a cryptocurrency exchange. Currently there’s nothing about cryptocurrency on the site.
Did You Invest With Retail Ecommerce Ventures?
Silver Law Group is a nationally-recognized law firm representing victims of securities and investment fraud, including Ponzi schemes. Our attorneys represent investors nationwide and internationally in class action lawsuits against issuers in state and federal court and in arbitration claims in cases of stockbroker misconduct.
Scott Silver, managing partner of Silver Law Group, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. Contact us for a consultation at no-cost at firstname.lastname@example.org or call (800) 975-4345.