New York, New York (PRWEB) August 23, 2013
Zamansky LLC announces its investigation on behalf of investors in various Phoenix Light SF and Blue Heron Fund offerings over allegations made in lawsuits against JPMorgan Securities and Goldman Sachs. The investigation concerns whether investors in these funds suffered losses attributable to alleged misconduct and due diligence failures by the investment managers.
On July 3, 2013, Phoenix Light SF, Blue Heron Funding II, Ltd., Blue Heron Funding VI Ltd., Blue Heron Funding VII Ltd., Blue Heron Funding IX Ltd., Silver Elms CDO Ltd. and Kleros Preferred Funding V Plc, filed a lawsuit in New York State Supreme Court, New York County against The Goldman Sachs Group and affiliated entities. The lawsuit is Index No. 13-652356. The lawsuit alleges that Goldman Sachs knowingly sold them a series of mortgage-backed securities that failed to meet applicable underwriting standards.
This is not the first lawsuit by these funds. In July 2012, these same funds brought a similar lawsuit against JPMorgan Securities LLC, Credit Suisse (USA) LLC, and Merrill Lynch, Pierce, Fenner & Smith, Inc., and related entities, alleging misconduct of the same or similar nature concerning mortgage-backed securities. The lawsuit is New York Supreme Index No. 12-651755.
According to investment fraud lawyer Jacob Zamansky, these lawsuits raise issues over the due diligence done in the creation and sales of these securities. Ultimately, it was investors in the Phoenix Light SF and Blue Heron Funding funds who were allegedly harmed by the wrongful conduct. These investors relied on their fund and investment managers to research and properly vet the funds' investments.
What Investors Can Do
If you were an investor in the Phoenix Light SF or Blue Heron Funding funds who suffered a loss and would like your situation reviewed or to discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm specializing in securities arbitration and securities class actions. Our stock fraud attorneys represent both individual and institutional investors. Our stockbroker fraud practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com/.
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New York, NY 10004
Jake Zamansky, 212-742-1414