First class action lawsuit on behalf of TCA fund investors accuses plan’s management group of falsifying net asset value
MIAMI – (BUSINESS WIRE) – Weinberg Wheeler Hudgins Gunn & Dial, Silver Law Group and Gibbs Law Group filed the first TCA Funds class action on behalf of investors against TCA Fund Management Group, which is the investment adviser to TCA Global Credit Master Fund, LP and other TCA funds. The lawsuit accuses the defendants of willfully inflating the value of the Master Fund by failing to remove impaired loans and charging advisory fees that were not earned or collectible. Lawyers for Weinberg Wheeler Hudgins Gunn & Dial, Silver Law Group and Gibbs Law Group are reviewing potential legal claims on behalf of additional TCA investors.
The victims claim that TCA Fund Management Group intentionally inflated the net asset value of the master fund with bad loans and phantom investment advisory fees, and as a result, the defendants collected excessive management fees to advise the master fund, between other. The Master Fund announced it would liquidate in January 2020 following reports that TCA insiders denounced the SEC, accusing the funds’ numbers were fabricated and that in fact TCA suffered losses. of more than $ 200 million, according to the complaint.
“The victims of this scheme have been intentionally misled and denied the opportunity to make an informed decision about their investment,” said David Stein of the Gibbs Law Group.
Scott Silver, Managing Partner of Silver Law Group, added, “Our clients were shocked to learn about TCA Management’s troubled history and its involvement in multiple lawsuits.”
TCA investors who want to know more about their legal rights in the TCA collective action can contact our team at 888-410-2925.
About Silver Law Group
Silver Law Group is a nationally recognized securities and investment fraud law firm that represents investors around the world to recover their investment losses. Law Firm Focuses on Class Action Plaintiffs and Securities Arbitration Claims Representing Individual Investors and Institutions in Claims Against Brokerage Firms, Investment Advisors, Commodity Companies , hedge funds and others. Silver Law Group also regularly serves as counsel to receivers and trustees on matters relating to the recovery of losses from investors in Ponzi schemes. Admitted to practice in New York and Florida, our lawyers have recovered millions of dollars for defrauded investors.
About Weinberg Wheeler Hudgins Gunn & Dial
Fueled by the unwavering commitment of our loyal clients, Weinberg Wheeler Hudgins Gunn & Dial met and surpassed the vision of creating a national trial law firm when it was established in 1999. Since then, our lawyers have sued or arbitrated over 415 business. , in addition to countless questions resolved in law or settled where the compromise was advantageous for our client. Since 2010, WWHGD lawyers have tried 132 cases to reach a verdict. We are very experienced, thoughtful in our role as advocates and we are committed to meeting the needs and demands of our clients.
About Gibbs Law Group
Gibbs Law Group is committed to protecting the rights of investors and consumers nationwide who have been harmed by fraud and malpractice. The firm has recovered over $ 1 billion for its clients against some of the world’s largest corporations, and our attorneys have received numerous awards for their work, including “Class Action Practice Group of the Year,” ” Top Boutique Law Firms in California ”,“ Best Lawyers in America ”,“ Titans of the Plaintiffs Bar ”,“ Top Plaintiff Lawyers in California ”,“ California Lawyer Attorney of the Year ”and“ Top Class Action Attorneys Under 40 ”.
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