Brogdon-related municipal bond programs and entities that assisted in the promotion of those programs continue to be investigated by the Peiffer Wolf Carr & Kane securities practice attorneys. Peiffer Wolf Carr & Kane attorney Jason Kane and his colleagues have been communicating with Brogdon muni bond investors and are preparing to take action on their behalf.
In the previous update, we informed investors that on December 23, 2013, the SEC on one hand, and defendant Christopher Brogdon and relief defendant Connie Brogdon on the other, submitted a proposed settlement to the U.S. District Court overseeing the SEC case arising out of municipal bonds and securities issued by certain entities related to Brogdons.
Under the proposed settlement, Brogdon is required to redeem all outstanding municipal bonds and preferred securities issued by certain entities related to him and to repay investors in those entities any ill-gotten gains. Under the proposed terms, if Brogdon is unable to obtain financing, he must liquidate assets.
On December 28, 2015, the Court overseeing the SEC action appointed a Monitor to oversee Brogdon’s progress in connection with the above. The Monitor will report to the Court on the status of Brogdon’s efforts every thirty days.
Peiffer Rosca would also like to inform investors of certain additional avenues it is investigating. First, we are investigating the sources of recent quarterly interest payments made to investors on municipal bonds issued by Brogdon-related entities. This is particularly interesting in light of the cash flow deficiencies alleged in the SEC case. We will continue to investigate that issue.
Second, we are investigating potential violations of the Trust Indentures connected with the Brogdon-related offerings.
Third, we are investigating additional bond programs that might be affiliated with Brogdon but are not listed in the SEC action or in our previous blog posts. We are investigating whether any other Brogdon-related bond offerings might also be subject to default. If you invested in Brogdon-related programs not listed in our previous blog posts, we are interested in speaking to you to gather more information.
The Peiffer Wolf Carr & Kane investor right lawyers are preparing to take action and seek compensation on behalf of investors in a number of Brogdon-related municipal bond offerings. Their goal is to supplement whatever recovery investors may receive through the SEC’s action.
Investors in Brogdon-related municipal bond offerings are encouraged to contact the Peiffer Wolf Carr & Kane lawyers, Jason Kane or his colleagues at 216-589-9280 for a free, no-obligation discussion about their recovery options or to provide information about their investments. Jason Kane may also be reached via email at firstname.lastname@example.org, or through the contact form on this website.