NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces to investors that a shareholder filed a class action on behalf of all purchasers of Pre-IPO shares through funds issued by Late Stage Asset Management, LLC between at least March 2019 and March 2023.
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Late Stage Asset Management, LLC Misled Investors Regarding its Business Operations.
According to the complaint, certain of the defendants orchestrated a common plan and scheme whereby a network of unregistered sales agents fraudulently offered and sold retail investors purportedly “no-fee” unregistered securities through various investment funds consisting of equity interests in private companies which may in the future become public (“Pre-IPO shares”).
Further, the complaint alleges that other defendants repeatedly told investors that there were no up front fees or commissions for their investments in Pre-IPO shares. These were false statements. In reality, certain of the defendants would charge investors up to a 150% markup on any given Pre-IPO shares sold to investors and pocket the money or use the money to pay their sales agents. These defendants intentionally misled investors so that they would invest in Pre-IPO shares.
What Now: You may be eligible to participate in the class action against Late Stage Asset Management, LLC. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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