National investment loss lawyers KlaymanToskes is investigating brokerage firms and brokers/investment advisors who may have unsuitably recommended Greenbacker Renewable Energy Co. to their customers, following the company’s announcement that it is suspending shareholder redemptions indefinitely. Our firm believes investors may have been misled regarding the risks and liquidity issues associated with Greenbacker’s private placement.
If you suffered investment losses in Greenbacker Renewable Energy Co. due to the unsuitable investment advice of a full-service brokerage/advisory firm and/or a registered broker/investment advisor, contact attorney Lawrence L. Klayman at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation to discuss recovery options.
Greenbacker Renewable Energy Co., LLC, is a non-traded limited liability company that acquires and operates renewable energy-related businesses. In a letter to shareholders sent on September 27, 2023, Greenbacker stated that its Board of Directors approved the suspension of the Company’s Share Repurchase Program (“SRP”).
According to the letter, Greenbacker’s SRP was suspended to allow for the company to devote more of its operational cash flow and financing dollars into “converting pre-operational projects into operational projects,” in order to increase its pre-operational pipeline.
According to the company’s latest Form 8-K Filing with the SEC, Greenbacker’s Net Asset Value is currently $8.26 per share. Greenbacker Renewable Energy Co.’s shares were purportedly originally sold for $10 per share, and the company’s Form D Filing with the SEC states that Greenbacker raised over $988 million from investors.
Brokerage firms and financial professionals that recommended investments in Greenbacker Renewable Energy (GREC) may be liable for any investment losses incurred by their customers. In the event of a misrepresentation or omission of material facts resulting in losses suffered by the investor, the brokerage firm may be liable for a breach of fiduciary duty.
Private placements or “Reg D” offerings can be highly volatile investments, as they are early-stage companies with limited information and are not bound to the same Securities Exchange Commision (“SEC”) disclosure requirements as public investment offerings.
Brokerage firms have a duty to ensure that their customers are not concentrated in any one investment product or market sector. In addition, brokers and their firms also have a responsibility to provide customers with diversification and risk-management strategies to protect concentrated and/or margined positions.
If you suffered investment losses in Greenbacker Renewable Energy Co. due to your broker/advisor, contact attorney Lawrence L. Klayman at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation to discuss recovery options.
Our firm offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com