San Diego, CA -- (SBWIRE) -- 02/07/2020 -- The Shareholders Foundation announced that an investor filed a lawsuit in the U.S. District Court for the Western District of Texas over alleged violations of Federal Securities Laws by GPB Capital Holdings, LLC, Ascendant Capital, LLC and the Brokerage Firms in connection with certain allegedly false and misleading statements.

Investors who between June 6, 2013 and October 25, 2019, inclusive (the "Class Period"), purchased or otherwise acquired interests in various GPB funds, including: GPB Holdings, LP; GPB Holdings Qualified, LP; GPB Holdings II, LP; GPB Automotive Portfolio, LP; GPB Cold Storage, LP; GPB NYC Development; GPB Waste Management, LP; and GPB Holdings III, LP have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The complaint alleges, among other things, that the Defendants: (i) made materially misleading statements and failed to disclose material information in the offering documents and subsequent communications concerning the nature of the Funds' businesses and distributions, the actual value of the investments, and the significant conflicts of interest of David Gentile and Jeffry Schneider, the principals of GPB and Ascendant, respectively; and (ii) failed to properly register the Fund offerings and the underlying securities or make required disclosures, as they were required to do given the circumstances of the offerings.
The complaint also alleges that numerous Broker Defendants selling the limited partnership interests, the Funds' outside auditors, and the fund administrator assisted in the scheme. Importantly, the complaint does not assert claims against the specific Broker Defendants for their direct sales of the partnership interests to particular class members; rather, the complaint only asserts claims against the Broker Defendants for their substantial assistance, or aiding and abetting, of the scheme relating to these unregistered public offerings.

Those who between June 6, 2013 and October 25, 2019, inclusive (the "Class Period"), purchased or otherwise acquired interests in various GPB funds, including: GPB Holdings, LP; GPB Holdings Qualified, LP; GPB Holdings II, LP; GPB Automotive Portfolio, LP; GPB Cold Storage, LP; GPB NYC Development; GPB Waste Management, LP; and GPB Holdings III, LP have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.