NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of investors in Platinum Partners’ funds resulting from allegations that Platinum Partners may have issued materially misleading business information to the investing public.
On June 8, 2016 news outlets reported that a manager at Platinum Partners, Murray Huberfeld, was arrested for allegedly bribing a union leader in exchange for an investment in Platinum Partners. According to the criminal complaint, Huberfeld is a founder and part owner of Platinum Partners and he may have been playing a leading role at Platinum Partners that was not publicly acknowledged by the firm. On June 22, 2016, agents from the FBI and the U.S. Postal Inspection Service raided the headquarters of Platinum Partners. On July 25, 2016, The Wall Street Journal reported that federal agents are not only investigating alleged bribery at the fund, but are investigating the fund for fraud. According to The Wall Street Journal, federal agents are probing whether Platinum Partners misstated values of some of its holdings, probing the firm’s service providers, including auditors who certified its figures, and probing whether, before Platinum Partners suspended redemptions of its main fund, Platinum Partners Value Arbitrage Fund, Platinum Partners had been paying some reported investment gains to exiting investors with money from incoming investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered from investors in Platinum Partners funds. If you invested with Platinum Partners please visit the firm’s website at http://rosenlegal.com/cases-924.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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