Finkelstein Thompson LLP Announces Investigation on Behalf of Investors in the YA Global Investments (U.S.) LP and YA Offshore Global Investments Ltd. Hedge Funds
Finkelstein Thompson LLP is investigating potential claims on behalf of investors in the YA Global Investments (U.S.) LP and YA Offshore Global Investments Ltd. Hedge Funds (“the Funds). If you are interested in discussing your rights as a shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at email@example.com.
The United States Securities and Exchange Commission (“SEC”) has filed a complaint against the Funds' advisor, Yorkville Advisors, LLC, (“Yorkville”) and Yorkville executives Mark Angelo and Edward Schinik. The SEC alleges that Yorkville and the executives defrauded the Funds' investors “by falsely portraying Yorkville as a firm that managed a highly-collateralized investment portfolio and employed a robust valuation procedure. They misrepresented the safety and liquidity of the investments made by the hedge funds, and charged excessive fees to the funds based on the fraudulently inflated values of the investments.”
The alleged deceptive practices include:
- failing to adhere to Yorkville's stated valuation policies;
- Ignoring negative information about certain investments by the funds;
- Withholding adverse information about fund investments from Yorkville's auditor, which enabled Yorkville to carry some of its largest investments at inflated values; and
- Misleading investors about the liquidity of the funds, collateral underlying the investments, and Yorkville's use of a third-party valuation firm.
The SEC alleges that these practices allowed Yorkville to collect “at least $10 million in excess fees based on the inflated values of Yorkville's assets under management.”
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Finkelstein Thompson LLP
L. Kendall Satterfield, 877-337-1050