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- SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use May 15, 2013FOR IMMEDIATE RELEASE2013-87 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use. Additional Materials SEC Complaint The SEC alleges that RIN […]
- SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams May 9, 2013FOR IMMEDIATE RELEASE2013-86 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. The investor alert informs investors about the risks involved when selli […]
TAG | Multi-Strategy Portfolio
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Goldman Sachs Multi-Strategy Portfolio XI, LLC Hedge Funds
Comments off · Posted by admin in FINRA
Attention Goldman Sachs investors. If you were sold a call option by Goldman Sachs in the Goldman Sachs Multi-Strategy Portfolio XI, LLC, hedge fund you may have a potential claim for monetary damages. Some investors were led to believe that the call option that they were purchasing in the Multi-Strategy fund was liquid. Investors may not have been informed of the lock up provision or the fact that there may have been no market for resale of the option other than back to Goldman Sachs. Some investors were forced to sell their option back to Goldman Sachs at a significant loss, the very firm that in many instances sold the option and was responsible for setting all the pricing. Some investors were also not given the opportunity to purchase puts on this fund to offset the dramatic decline of the fund.
Investors feel that they may have been mislead due to the fact that since the Multi-Strategy Portfolio is a hedge fund that isn’t traded on any public exchange, investors were not able to correctly assess the value of the hedge fund that they were purchasing the option on. This may lead investors to believe that the premiums charged to purchase the call option were exorbitant and no matter how high the value of the Multi-Strategy fund climbs, investors could not have made a profit on this transaction. Evidence of this may be reflected in the fact that during the market rally into 2010 the value of the options only increased 1%.
If you feel that you were mislead by purchasing a call option on the Multi-Strategy Fund from Goldman Sachs and then later had sold it back to Goldman Sachs at a loss, you may have a potential claim for recovery. To discuss your options further feel free to contact a securities attorney at 888-760-6552 or on the web at http://www.stockmarketlawsuit.com. Our main office is located in Fort Lauderdale, Florida, but we represent investors nationwide before the Financial Industry Regulatory Authority. All consultations are free and there is no fee unless there is a recovery.
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