MIAMI--(BUSINESS WIRE)--Weinberg Wheeler Hudgins Gunn & Dial, Silver Law Group, and Gibbs Law Group have filed the first TCA Funds Class Action Lawsuit on behalf of investors against TCA Fund Management Group, which is the investment advisor to the TCA Global Credit Master Fund, L.P., and other TCA Funds. The lawsuit charges the defendants with intentionally inflating the value of the Master Fund by failing to remove bad loans and charging advisory fees that were not earned or collectable. Attorneys at 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 assert that TCA Fund Management Group intentionally inflated the Master Fund’s Net Asset Value with bad loans and phantom investment advisory fees, and as a result, defendants collected excessive management fees for advising the Master Fund, among other things. The Master Fund announced it would be liquidating in January 2020 following reports that TCA insiders blew the whistle to the SEC charging that the Funds’ numbers were fabricated and that, in fact, TCA had losses of over $200 million, according to the complaint.
“The victims of this scheme were intentionally misled and deprived of the opportunity to make an informed decision about their investment,” said David Stein of 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 involvement in multiple lawsuits.”
TCA investors who would like to learn more about their legal rights in the TCA Class Action Lawsuit may contact our team at 888-410-2925.
About Silver Law Group
Silver Law Group is a nationally recognized securities and investment fraud law firm representing investors worldwide to recover their investment losses. The law firm focuses on plaintiff-side class action litigation and securities arbitration claims representing individual investors and institutions in claims against brokerage firms, investment advisors, commodities firms, hedge funds and others. Silver Law Group also routinely serves as counsel to receivers and trustees in matters relating to the recovery of investor losses in Ponzi schemes. Admitted to practice in New York and Florida, our attorneys have recovered millions of dollars for defrauded investors.
About Weinberg Wheeler Hudgins Gunn & Dial
Fueled by the steadfast commitment of our loyal clients, Weinberg Wheeler Hudgins Gunn & Dial met and surpassed the vision of creating a powerhouse, national trial firm when we formed in 1999. Since then, our attorneys have taken to trial or arbitrated more than 415 cases, in addition to countless matters resolved as a matter of law or settled where compromise was advantageous to our client. Since 2010, WWHGD attorneys tried 132 cases to verdict. We are highly experienced, thoughtful in our role as advocates, and committed to being responsive to what our clients need and demand.
About Gibbs Law Group
Gibbs Law Group is committed to protecting the rights of investors and consumers nationwide who have been harmed by corporate fraud and misconduct. The firm has recovered over a billion dollars 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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