FINRA arbitration filed on behalf of Investors in ICap Equity, LLC
Oct 6, 2023
Key Takeaways
- Soreide Law Group has filed a FINRA arbitration on behalf of customers who lost money in ICap Equity, LLC and its affiliated Funds.
- ICap announced plans to reshape its failed business on September 12, 2023.
- Soreide Law Group has already filed one claim against Somerset Securities and is expecting to file more claims against brokerage firms that sold ICap Equity, LLC.
- The lawsuit alleges breach of fiduciary duty, negligence, and failure to supervise by the brokerage firms.
- ICap Equity, LLC and ICap Northwest Opportunity Fund may result in a total loss for investors, and those affected should contact Soreide Law Group for possible recovery of investment losses through a FINRA arbitration.
Soreide Law Group has filed a FINRA arbitration on behalf of the customers who lost money in ICap Equity, LLC and it’s affiliated Funds.
Pompano Beach, United States - October 6, 2023 /PressCable/ —
Soreide Law Group has filed a FINRA arbitration on behalf of the customers who lost money in ICap Equity, LLC and it’s affiliated Funds.
On September 12, 2023, iCap announced that its plans to reshape its failed business. Soreide Law Group has already filed one claim in the Financial Industry Regulatory Authority against Somerset Securities and anticipates dozens more to follow against several brokerage firm who sold ICap Equity, LLC. ICap and it’s affiliated funds including the popular Northwest Opportunity Fund are in Chapter 11 bankruptcy.
Details of the claim can be found on https://www.SecuritiesLawyer.com
The lawsuit filed by Soreide Law Group on behalf of ICap investors against the brokers who recommended the fund allege that the brokerage firm’s actions constitute a breach of fiduciary duty, negligence, and failure to supervise. ICap Equity and ICap Northwest Opportunity Fund paid over 10% commission to the brokers who sold it which may have motivated some brokers to make an unsuitable recommendation to their clients putting their own financial interest ahead of their customers.
According to a letter sent out to ICap investors on March 20, 2023, iCap Equity LLC stopped monthly interest payments to its shareholders citing the “monumental challenges” for the real estate capital markets due to rising interest rates and inflation.
iCap Equity stated that other notable real estate investment firms have recently announced that they are suspending payments to investors or that they have also defaulted on their loan obligations. Private placement investments, like iCap typically involve a high degree of risk. They are often sold as unregistered securities which may lack the same attention as more traditional investment products like stocks or bonds. They also tend to be illiquid and when ready to sell, it is often difficult to find a buyer. An investor may be able to sell the investments through a secondary market, but it may be at a financial loss.
ICap Equity LLC, and ICap Northwest Opportunity Fund may become a total loss for investors and investors should contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of investment losses through a FINRA arbitration at: 888-760-6552 or visit https://www.SecuritiesLawyer.com
Soreide Law Group represents clients nationally before FINRA on a contingency fee basis, no fee if no recovery.
Contact Info:
Name: Lars Soreide
Email: Send Email
Organization: Soreide Law Group
Address: 2401 East Atlantic Boulevard Suite 305, Pompano Beach, Florida 33062, United States
Website: https://www.securitieslawyer.com/
Source: PressCable
Release ID: 89109545
Should any errors, concerns, or inconsistencies arise from the content provided in this press release that require attention or if a press release needs to be taken down, we kindly request that you immediately contact us at [email protected]. Our efficient team will be at your disposal for timely assistance within 8 hours – taking necessary measures to rectify identified issues or providing guidance on the removal process. We prioritize delivering accurate and reliable information.
More News
Jake Johnson Comedy ‘Sunset P.I.’ Casts Spencer Moss, Nelson Franklin and More (EXCLUSIVE)
“Sunset P.I.” has found a handful of new cast members. The upcoming NBC comedy led by Jake Johnson will feature guest stars Spencer Moss (“She’s Fine,” “Doctor Odyssey”), Nelson Franklin (“Veep,” “The Social Reckoning”), Patrick Gallagher (“Big Sky,” “Joe Pickett”), David Paymer (“Dave,” “The Marvelous Mrs. Maisel”) and Wrenn Schmidt (“For All Mankind,” “Nuremberg”). Premiering […]
Dana Walden Addresses Disney Layoffs: “Technology Set Their Sights On Our Business”
Disney has gone through a number of layoffs this year and is just coming out of a voluntary retirement program. “It is extremely painful,” admitted Dana Walden, President and Chief Creative Officer of The Walt Disney Company. Earlier this week, the Mouse House laid off a couple of hundred employees, largely in areas such as […]
Emma Chamberlain on Building Her Coffee Company’s First Storefront and Her Social Media Hiatus: ‘The Internet Has Caused a Lot of Psychological Challenges’
Emma Chamberlain’s months-long hiatus from the internet is not because she’s “disappearing and being fucking lazy.” More importantly, it’s not forever. “I don’t want to continue living like this necessarily, where I’m pretty offline,” Chamberlain tells Variety. “I want to create things. I want to figure out a way to do this job in a […]
Jamie Wyeth, Meet Uncle Winslow
Jamie Wyeth makes a pilgrimage to Portland, Maine, to view rare works by Winslow Homer, who has been a potent influence on three generations of Wyeth artists.
First Glastonbury 2027 tickets sell out
Coach tickets for the 2027 festival are all snapped up in under 30 minutes.
Jesse McCartney & Wife Katie Peterson Expecting Baby No. 2!
Jesse McCartney will soon be a dad of 2! On Thursday (October 1), the 39-year-old singer and actor announced that […] The post Jesse McCartney & Wife Katie Peterson Expecting Baby No. 2! appeared first on Just Jared - Celebrity News, Entertainment News & Photos.
‘Dancing with the Stars’ 2026 Week 4 Songs & Dance Styles Revealed for ‘Mariah Carey’ Night
We now know the songs and dances for Dancing with the Stars‘ “Mariah Carey” night! On Tuesday (October 6), the […] The post ‘Dancing with the Stars’ 2026 Week 4 Songs & Dance Styles Revealed for ‘Mariah Carey’ Night appeared first on Just Jared - Celebrity News, Entertainment News & Photos.
Sony Pictures TV Exec Mike Wald to Retire After 32 Years; Jason Spivak, Paul Littmann Named Presidents of Distribution & Networks (EXCLUSIVE)
Sony Pictures Television distribution and networks co-president Mike Wald is retiring after 32 years with the company, the studio was set to announce Thursday morning. The news comes as Sony Pictures’ TV exec VP of North America Distribution Flory Bramnick also recently announced her departure. “I have had the distinct privilege of working closely with […]
‘Reacher’ Spinoff ‘Neagley’ Renewed for Season 2 at Amazon
“Neagley” has been renewed for Season 2 at Amazon, Variety has learned. The “Reacher” spinoff series originally debuted on Prime Video on Sept. 16, the same day as the “Reacher” Season 4 finale. Per Amazon, the first season has reached 40 million viewers in its first 13 days of availability, though Amazon does not define […]
‘Reacher’ Spinoff ‘Neagley’ Renewed For Season 2 At Amazon
Reacher was handed an early season six renewal earlier this week and Amazon has followed that up by bringing back its spinoff for another run. Neagley, starring Maria Sten as Frances Neagley, has been renewed for a second season. It comes two weeks after the show dropped all episodes. Amazon said that the show had […]
‘The Influencer Project’ Review: Found Footage Terror Takes a Tepid Danish Holiday
An opening text announcing “This film is influenced by real events” provides the first and last moment of inspiration in “The Influencer Project,” whether the joke is deliberate or not. Mike Nybroe’s debut feature is far from the first horror movie to posit practitioners of the titular digital-age profession as a killer’s prey, and surely […]
Drake smashes his own record on Billboard: Here's what we know
Drake smashes his own record on Billboard: Here's what we knowDrake has a well-known reputation for setting records. Now, something different happened.Besides setting records, he recently broke his own.Janice STFU, a song Drizzy recently released, spent 19 weeks at No. 1 on Billboard's Hot Rap...
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.