Securities Investigation involving Uptown Newport Development Co. LLC
The White Law Group is investigating potential securities fraud claims involving the liability broker dealers may have improperly recommended Uptown Newport Development Co. LLC to investors.
Uptown Newport Development Co. LLC, a real estate investment fund based in Irvine, California, reportedly filed a form D to raise capital from investors in 2019. The total offering amount was purportedly $13,807,483. According to the filing, sales commissions and fees were estimated at $6,903,740.
Private placement investments can carry significant risk, and you may lose all of your investment.
Private placement offerings are high- risk, complex investments. They are typically illiquid investments, as they are not traded on any exchange. There are often legal or contractual restrictions on your ability to transfer your holdings, and even if sale of your holdings is permitted there may be no buyers. You may need to hold these securities for an indefinite period of time.
Some investments may make periodic distributions, but some may not make any. Companies that issue unlisted securities may provide little or no transparency into their ongoing operations and financial condition.
To learn more about the risks of investing in private placements, please see: Regulation D Private Placement Fraud Attorneys
Potential FINRA Lawsuits to Recover your Investment Losses
Brokerage firms have two main duties in recommending investments. First, brokerage firms are required to perform adequate due diligence on any product they recommend. Second, brokerage firms are required to ensure that all recommendations made are suitable for their client in light of the client’s age, investment experience, net worth, income, and investment objectives.
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. ?It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.
If you invested in Uptown Newport Development Co. LLC, and would like to speak with a securities attorney about your options, please call The White Law Group at 888-637-5510 for a free consultation.
The White Law Group, LLC 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 on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.
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