The White Law Group announces a securities investigation involving Woodbridge Wealth.
PR-Inside.com: 2017-12-21 21:37:01
On December 11, Woodbridge Group of Companies filed for Chapter 11 bankruptcy, citing costs of expansion, litigation and a government fraud investigation, according to a press announcement.
The U.S. Securities and Exchange Commission has been investigating Woodbridge since 2016 for possible fraudulent sales of securities, according to court documents.
Woodbridge, which is based in Sherman Oaks, California, said it would fully cooperate with regulators.
Woodbridge is a privately owned company based in Sherman Oaks, CA. The company has raised nearly $1 billion from about 11,000 investors, according to documents filed in the U.S. Bankruptcy Court in Delaware.
The White Law Group is investigating potential claims involving broker-dealers who may have unsuitably recommended the following Woodbridge Wealth offerings, among others:
Woodbridge Mortgage Investment Fund I
Woodbridge Mortgage Investment Fund II
Woodbridge Mortgage Investment Fund III
Woodbridge Mortgage Investment Fund I is a private placement investment. Generally speaking, private placements are not subject to some of the laws and regulations that are designed to protect investors. Private and public companies engage in private placements to raise funds from investors.
Private Placement investments such as Woodbridge Mortgage Investment Fund I should only be sold to high net worth, knowledgeable investors.
“Your broker has a duty to conduct a reasonable investigation to make sure it is suitable for you. They must consider your age, financial situation, current and future needs, investment objectives and tax status.” said D. Daxton White, managing partner of The White Law Group.
“If your broker recommended Woodbridge Mortgage Investment Fund I and fails to satisfy its duties, this could constitute a violation of the antifraud provisions as well as other federal securities laws.”
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm and financial advisors.
For a free consultation with a securities attorney, please call the securities attorneys of The White Law Group at 1-888-637-5510.
For more information on the firm and its representation of investors, visit www.WhiteSecuritiesLaw.com.
The White Law Group, LLC
595 21st Street
Vero Beach, FL 32960
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