Fishpond Investments, LLC: Recovery of Investment Losses
The White Law Group is investigating potential securities claims on behalf of investors who purchased interests in Fishpond Investments, LLC, a private placement sponsored by Webb Creek Management Group. Investors concerned about losses in this offering may be able to pursue recovery through a FINRA arbitration attorney against the brokerage firm that sold them the investment.
The Fishpond Investments, LLC Offering
According to a Form D notice filed with the U.S. Securities and Exchange Commission, Fishpond Investments, LLC is a Delaware limited liability company formed in 2018, with its principal place of business in Rome, Georgia. Per the filing, the total offering amount was $5,154,800, with a stated minimum investment of $52,600. The most recent Form D amendment on file with the SEC, filed January 16, 2019, still lists the offering as unsold; issuers are not always diligent about filing a follow-up amendment once a raise closes, and The White Law Group is aware that investors did in fact purchase interests in this offering. Investors with account statements or subscription documents reflecting their investment should retain those records.
The related-persons section of the filing identifies Bryan Kelley as an executive officer of Fishpond Investments, LLC, along with Ronald Wallace and Steven Kelley. Bryan Kelley also serves as chief executive officer of Webb Creek Management Group, a Rome, Georgia-based sponsor of syndicated real estate and land-related private placements, including offerings structured around conservation easement deductions.
The Brokerage Firms That Sold the Offering
The Form D filing lists three broker-dealers as recipients of sales compensation in connection with the Fishpond Investments, LLC offering: Dempsey Lord Smith, LLC; Sandlapper Securities, Inc.; and Titan Securities. Estimated sales commissions on the offering totaled approximately $515,480. If your broker or financial advisor at any of these firms, or another FINRA-registered brokerage, recommended Fishpond Investments, LLC to you, that firm may have obligations relevant to your situation.
Broker-Dealer Suitability and Due Diligence Obligations
Alternative investments like Fishpond Investments, LLC generally involve a much greater degree of risk than traditional investments such as stocks, bonds, or mutual funds. Interests in limited liability companies are frequently sold as unregistered securities and lack the same regulatory oversight and liquidity as exchange-traded products.
Broker-dealers that recommend alternative investments are required to perform reasonable due diligence and to ensure that any recommendation is suitable in light of an investor’s age, risk tolerance, net worth, financial needs, and investment experience. Where a broker allegedly failed to disclose material risks or recommended an unsuitable concentration in illiquid private placements, that firm may be liable for resulting losses.
How The White Law Group Can Help
The securities attorneys at The White Law Group represent investors nationwide in disputes with brokerage firms over the sale of high-risk private placements, including offerings sponsored by Webb Creek Management Group. If a broker-dealer failed to conduct adequate due diligence, misrepresented the risks of Fishpond Investments, LLC, or recommended an investment unsuitable for your circumstances, our firm may be able to help you pursue a FINRA arbitration claim to recover your losses.
Frequently Asked Questions
What was Fishpond Investments, LLC?
Fishpond Investments, LLC was a private placement offering sold under Regulation D, sponsored by Webb Creek Management Group, with a total offering amount of $5,154,800.
Why are private placements like this considered high risk?
Private placements are exempt from SEC registration, are typically illiquid, and are not subject to the same disclosure requirements as publicly traded securities. Investors often have limited ability to sell their interests or verify ongoing valuations.
What can I do if my broker recommended this investment?
If you believe your broker recommended Fishpond Investments, LLC without adequate disclosure of the risks, or without regard to whether it was suitable for you, you may be able to file a FINRA arbitration claim against the brokerage firm. Contact The White Law Group to discuss your options.
Contact The White Law Group
If you have concerns about your investment in Fishpond Investments, LLC and would like to speak with a securities attorney about your options, please call The White Law Group at (888) 637-5510, or visit our contact page to submit your information online.
The White Law Group is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. For more information about the firm’s representation of investors in FINRA arbitration claims, visit whitesecuritieslaw.com.
This post is based on information contained in the issuer’s Form D filing with the U.S. Securities and Exchange Commission and is provided for informational purposes only. It does not constitute an allegation of wrongdoing by any specific individual or firm and should not be construed as legal advice.
