Legendary A-1 Bonds, LLC – Private Placement Investment
The White Law Group is investigating potential securities claims involving Legendary A-1 Bonds, LLC, a private placement investment offered under Regulation D Rule 506(b). According to a Form D filed with the Securities and Exchange Commission (SEC) in 2021, the offering was seeking to raise up to $50 million through the sale of debt securities.
Details of the Offering
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Issuer: Legendary A-1 Bonds, LLC
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Total Offering Amount: $50,000,000
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Total Sold (as of filing): $13,383,930
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Remaining to be Sold: $36,616,070
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Minimum Investment: $10,000
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Investors Reported: 221
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Estimated Sales Commissions: $3,000,000
The filing notes that proceeds may be used for organizational expenses and other payments to related parties. The issuer is managed by Legendary Capital, LLC.
Risks of Private Placement Investments
Private placement offerings like Legendary A-1 Bonds, LLC are generally sold to accredited investors through brokerage firms. These investments are illiquid, speculative, and high-risk, and often come with steep upfront fees and commissions.
While private placements may be suitable for some investors, they are not appropriate for everyone. Financial advisors and brokerage firms have a duty to ensure that any investment they recommend is suitable for their client’s age, investment experience, risk tolerance, and financial needs.
Broker-Dealers Involved
According to the Form D filing, a number of broker-dealers have solicited sales of Legendary A-1 Bonds, including:
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Great Point Capital LLC
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IBN Financial Services, Inc.
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JRL Capital Corporation
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Newbridge Securities Corporation
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NI Advisors
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Landolt Securities Inc.
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Invicta Capital LLC
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American Trust Investment Services, Inc.
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Dempsey Lord Smith LLC
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Lion Street Financial LLC
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Westpark Capital Inc.
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Peak Brokerage Services LLC
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Infinity Financial Services
If you purchased this investment through one of these firms, you may have legal options to recover your losses.
Recovery of Investment Losses
Brokerage firms are required by FINRA rules to conduct due diligence on investment products they recommend and to ensure that the investments are in line with their clients’ profiles. If a broker or firm misrepresented the risks, failed to perform due diligence, or unsuitably recommended Legendary A-1 Bonds, LLC, investors may be able to pursue claims through FINRA arbitration.
Free Consultation with Securities Attorneys
The White Law Group is a national securities law firm with offices in Chicago and Seattle. We represent investors in claims against brokerage firms for unsuitable investment recommendations and failure to supervise.
If you suffered losses in Legendary A-1 Bonds, LLC or another private placement, please call the firm at (888) 637-5510 for a free consultation. You may also visit www.whitesecuritieslaw.com
Frequently Asked Questions (FAQs)
What is Legendary A-1 Bonds, LLC?
Legendary A-1 Bonds, LLC is a private placement investment formed in 2020 in Delaware and managed by Legendary Capital, LLC. According to SEC filings, the company sought to raise up to $50 million through the sale of debt securities.
Why are Legendary A-1 Bonds considered risky?
Private placements like Legendary A-1 Bonds are typically illiquid, speculative, and high-risk investments. They often involve complex structures, high sales commissions, and limited public information, making them unsuitable for many retail investors.
Can I recover losses from an investment in Legendary A-1 Bonds, LLC?
If your financial advisor or brokerage firm recommended Legendary A-1 Bonds without properly disclosing the risks or determining suitability, you may be able to pursue a claim for recovery through FINRA arbitration. The White Law Group may be able to help you explore your legal options.
