RD Legal Capital LLC—Marketing based on Misrepresentations
RD Legal Capital LLC Allegedly Marketed and Sold Investment in Two Funds based on Misrepresentations; RD Legal Bet on the Outcome of Terrorism Litigation Including the Judgment against Iran for Sponsoring a Terrorist Attack that Purportedly Killed Americans
RD Legal Capital LLC allegedly marketed and sold investments in two funds based on misrepresentations concerning the type and diversification of assets under management in these funds, according to a recent SEC Documents currently under review by Cleveland attorneys Alan Rosca and James Booker.
RD Legal Capital LLC allegedly made a wager on the outcome of terrorism litigation and purportedly marketed its funds as a reasonable method to make cash from safe legal settlements, said Documents note. RD Legal, instead, “invested the funds’ money however they saw fit,” the SEC notes.
The Peiffer Rosca Wolf securities lawyers are currently investigating RD Legal Capital LLC’s alleged wagers on the outcome of terrorism litigation and marketing and selling of investments in two funds based on misrepresentations.
RD Legal Capital LLC and Founder Roni Dersovitz Allegedly Withdrew Money Using Valuations Based on Unreasonable Assumptions; RD Legal Allegedly Misled Investors Regarding the Amount Bet on the Outcome of a Judgment against Iran for State-sponsored Terrorism
RD Legal and its founder Roni Dersovitz allegedly withdrew money from the funds using valuations based on unreasonable assumptions, and therefore drained the funds of liquidity at the expense of investors, according to the aforementioned SEC Documents being examined by attorneys Alan Rosca and James Booker.
RD Legal allegedly misled investors several times regarding the amount wagered on the outcome of a judgment against Iran for state-sponsored terrorism that led to the death of Americans, the SEC notes. RD Legal had allegedly spent years buying up victim claims related to a $1.8 billion court judgment against Iran for the 1983 bombing of a Marine barracks in Beirut, the SEC also reports.
By the end of 2011, allegedly more than half of the funds’ assets were invested in unsettled cases or a default judgment, the SEC states, and by 2015, the percentage of the funds’ investments in unsettled cases or a default judgment allegedly rose to over 80% of the funds’ assets.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged misrepresentations to customers and are currently investigating RD Legal Capital LLC’s alleged marketing and selling of investments in two funds based on misrepresentations concerning the type and diversification of assets. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of RD Legal Capital LLC’s alleged marketing and selling of investments in two funds based on misrepresentations concerning the type and diversification of assets are encouraged to contact the Cleveland office of Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.