NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of investors who purchased (a) notes issued by Aequitas Commercial Finance, LLC (“ACF”) pursuant to a Private Placement Memorandum (“PPM”) dated November 2013, or (b) notes issued by Income Opportunity Fund II (“IOF II”) beginning January 2014.
Between January 2014 and January 2016, Aequitas-affiliated entities raised about $350 million selling notes directly to investors pursuant to PPMs representing the funds would be used to purchase trade receivables. But according to a complaint filed by the Securities and Exchange Commission (“SEC”), unbeknownst to investors, the May 2014 default of an entity accounting for 75% of ACF’s receivables pushed the Aequitas funds into insolvency. Thereafter, private placement proceeds were used not to purchase trade receivables but principally to pay operating costs, as well as redemptions and interests to existing investors.
Rosen Law Firm is investigating a class action lawsuit to recover losses suffered by ACF and IOF II investors. If you purchased notes issued by ACF or IOF II, please visit the firm’s website at http://rosenlegal.com/cases-858.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 email@example.com or firstname.lastname@example.org.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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