GlobeNewswire Inc | Aug 3, 2021 11:12AM EDT

August 03, 2021

NEW YORK, Aug. 03, 2021 (GLOBE NEWSWIRE) -- National investor fraud law firm, KlaymanToskes ("KT"), announces that it is preparing to file a claim against TD Ameritrade on behalf of an investor who sustained losses in GPB Holdings, LP and other related non-registered private placement securities, as a result of recommendations from their investment advisor through the TD Ameritrade AdvisorDirect Referral Program. TD Ameritrade, which was recently acquired by Charles Schwab (NYSE: SCHW), offers to help investors find a Registered Investment Advisor (RIA) through AdvisorDirect advisory service. TD Ameritrades website makes clear that based on your personal needs, Our AdvisorDirect referral program gets you an introduction to an independent Registered Investment Advisor (RIA).

According to the Securities and Exchange Commission (SEC), GPB principals and their affiliated entities were charged with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. According to securities attorney Lawrence L. Klayman, TD Ameritrade is responsible to conduct adequate due diligence selecting investment advisors for their referral program and to supervise the account activities for the fees they receive directly from client accounts.

GPB Capital sold and marketed, non-registered private placement notes, through inadequate disclosure of illiquidity, high risks and commissions which made the investments unsuitable for most investors. securities under investigation include:

-- GPB Holdings, LP -- GPB Cold Storage, LP -- GPB Automotive Portfolio, LP -- GPB Waste Management, LP

The sole purpose of this release is to investigate on behalf of our client who purchased GPB Capital private placement notes through the TD Ameritrade AdvisorDirect Referral Program. Investors who have information relating to the manner in which the their accounts were handled are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131.

About Klayman ToskesKT 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. KT has recovered more than $220 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.

Destination: https://klaymantoskes.com/gpb-capital-td-ameritrade/

ContactKlaymanToskes Lawrence L. Klayman, Esq. (561) 542-5131 lklayman@klaymantoskes.com www.klaymantoskes.com