IMPORTANT NOTICE TO INVESTORS WHO PURCHASED ICAP INVESTMENTS
If You Suffered Losses in iCap Investments Contact KlaymanToskes Immediately
AUSTIN, TX, UNITED STATES, November 4, 2024 /EINPresswire.com/ -- National investment loss and securities lawyers KlaymanToskes1 issues an important notice to customers of MHL Investments after the brokerage firm’s recommendations to purchase iCap investments2 caused an investor to suffer significant losses. The law firm urges all iCap investors who suffered investment losses to contact the firm immediately at 888-997-9956.KlaymanToskes reports the firm has filed a FINRA arbitration claim3 (no. 24-02007) against MHL Investments on the behalf of an investor who is seeking to recover significant damages in connection with being recommended to invest in high-risk and speculative iCap investments.
According to the lawsuit filed by KlaymanToskes, the customer was an unsophisticated investor and retiree who sought income producing investments to provide for his retirement years. Instead, the iCap investments recommended to the customer by MHL Investments were high-risk, illiquid private placements.
In addition to failing to conduct reasonable due diligence into iCap’s offerings, MHL misrepresented the investment and failed to fully disclose that the investment was speculative, illiquid and high risk. Had MHL disclosed that this investment was a speculative, high risk investment, the customer would never have invested in this investment.
iCap reportedly raised over $245 million from investors through independent broker-dealers such as MHL Investments. In 2023, iCap halted monthly interest payments and filed for Chapter 11 bankruptcy, leaving investors unable to access their principal or promised returns.
KlaymanToskes believes investment firms and financial advisors may have misrepresented the risk-factors related to investments in iCap, in addition to failing to conduct due diligence on iCap’s investment offerings, leading to unsuitable recommendations. iCap investors may be entitled to a financial recovery through the filing of a FINRA arbitration claim.
Current and former customers of MHL Investments and/or any other brokerage firm who suffered investment losses in iCap investments are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com
1 http://klaymantoskes.com/contact/
2 http://klaymantoskes.com/investigations/icap-equity-investor-loss-investigation/
3 http://klaymantoskes.com/finra-arbitration-lawyer/
