With losses approaching 70% for some investors, sitting on the sidelines, waiting for the funds to turn around is apparently not working for investors in the GPB Capital funds, and the situation is not getting better.
While investors are filing arbitrations to recover their losses in GPB Capital, and investigations pending by the SEC and FINRA, the financial press is reporting that the Massachusetts Securities Division has announced an investigation of its own. Add that to the reports last week that The Department of Justice charged its chief compliance officer with obstruction of justice relating to an SEC investigation of GPB, and the situation for GPB investors is rapidly deteriorating.
Sitting and waiting for a recovery may not be the best way to address the losses in GPB Capital funds. Investors with losses should all an experienced securities lawyer to plan a way to recovery.