{"id":8709,"date":"2020-01-03T09:49:40","date_gmt":"2020-01-03T14:49:40","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=8709"},"modified":"2020-01-03T09:49:40","modified_gmt":"2020-01-03T14:49:40","slug":"gpb-class-action-plaintiffs","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/gpb-class-action-plaintiffs\/","title":{"rendered":"Collectability May Be An Issue For GPB Class Action Plaintiffs \u2013 Broker-Dealers Still Liable"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-8625 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/11\/GavelMoney-300x200.jpg\" alt=\"A class-action complaint was filed in a Texas federal court on October 25, 2019 against GPB Capital and its principals and affiliates as well as nearly 80 broker-dealers. The basis of the lawsuit is \u201cimproper conduct in selling securities . . . at the direction of GPB Capital.\u201d Specifically, the suit alleges that the defendants knowingly made misstatements and omissions in communications with potential investors that they were engaged in a massive Ponzi scheme.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/11\/GavelMoney.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/11\/GavelMoney-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>A <a href=\"https:\/\/www.silverlaw.com\/blog\/gpb-class-action\/\" target=\"_blank\">class-action complaint<\/a> was filed in a Texas federal court on October 25, 2019 against GPB Capital and its principals and affiliates as well as nearly 80 broker-dealers. The basis of the lawsuit is <em>\u201cimproper conduct in selling securities . . . at the direction of GPB Capital.\u201d<\/em> Specifically, the suit alleges that the defendants knowingly made misstatements and omissions in communications with potential investors that they were engaged in a massive Ponzi scheme.<\/p>\n<p>For the most part, the complaint lays out in great detail what we already know: GPB engaged in an asset management strategy that was fraudulent and <em>\u201cdestined to fail\u201d<\/em> and GPB\u2019s scheme was carried out by broker-dealers who blindly recommended the investment in exchange for high commission payments. Per <a href=\"https:\/\/www.silverlaw.com\/blog\/silver-law-group-files-another-gpb-claim-against-sagepoint-financial\/\" target=\"_blank\">previous articles<\/a>, the selling broker-dealers ignored the best interests of their clients and pocketed millions of dollars in the process. <a href=\"https:\/\/www.silverlaw.com\/blog\/gpb-class-action-plaintiffs\/#more-8709\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A class-action complaint was filed in a Texas federal court on October 25, 2019 against GPB Capital and its principals and affiliates as well as nearly 80 broker-dealers. The basis of the lawsuit is \u201cimproper conduct in selling securities . . . at the direction of GPB Capital.\u201d Specifically, the suit alleges that the defendants [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[602,593,699],"tags":[],"class_list":["post-8709","post","type-post","status-publish","format-standard","hentry","category-class-action","category-ponzi-schemes","category-private-placement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Collectability May Be An Issue For GPB Class Action Plaintiffs<\/title>\n<meta name=\"description\" content=\"A class-action lawsuit was filed against GPB Capital, but if the allegations are true, GPB class action plaintiffs may not be able to recover their losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/gpb-class-action-plaintiffs\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Collectability May Be An Issue For GPB Class Action Plaintiffs\" \/>\n<meta name=\"twitter:description\" content=\"A class-action lawsuit was filed against GPB Capital, but if the allegations are true, GPB class action plaintiffs may not be able to recover their losses.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/11\/GavelMoney-300x200.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. 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minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/gpb-class-action-plaintiffs\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/gpb-class-action-plaintiffs\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Collectability May Be An Issue For GPB Class Action Plaintiffs \u2013 Broker-Dealers Still Liable","datePublished":"2020-01-03T14:49:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/gpb-class-action-plaintiffs\/"},"wordCount":495,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/gpb-class-action-plaintiffs\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/11\/GavelMoney-300x200.jpg","articleSection":["Class Action","Ponzi Schemes","Private 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