iCap Investor Update: Investor Lawyers Pursuing Compensation Claims for Investor Losses Against Financial Service Firms That Sold iCap to Investors

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Rosca Scarlato LLC

06 Nov, 2023, 06:45 ET

WASHINGTON, Nov. 6, 2023 /PRNewswire/ -- Aggrieved iCap investors have started pursuing claims for compensation against financial service firms that employed advisors who recommended iCap, according to a recent article by Investment News that quoted investor rights lawyer Alan Rosca, a partner at the Rosca Scarlato LLC law firm who often represents victims of investment-related misconduct.

The Rosca Scarlato investor rights lawyers have been in touch with many iCap investors and are preparing claims for compensation on behalf of some of those investors, against the financial service firms that recommended iCap to them.

iCap, a former real estate investment program, recently filed for bankruptcy, after it stopped paying investor distributions, laid off its work force, and saw its former leadership resign and replaced by a chief restructuring officer. For years before going bankrupt, iCap raised over $200 million from numerous investors around the country and overseas.

iCap's bankruptcy case is in early stages, and currently pending in the Eastern District of Washington United States Bankruptcy Court. iCap's bankruptcy filing suggests that its current liabilities are likely far in excess of its assets.

iCap Investors Likely to Only Recover a Small Portion of Their Investments from iCap Bankruptcy

In his interview to Investment News, investor attorney Alan Rosca estimated, based on his review of various bankruptcy records and other evidence, that iCap investors are likely to only recoup a small portion of their initial investments from the iCap bankruptcy.

Attorney Rosca, who has represented thousands of investors who lost money as a result of financial misconduct, has indicated that some, but not all, of the iCap investors may have claims for compensation in addition to any recovery from bankruptcy, against some of the securities broker-dealer firms that recommended those iCap investments.

iCap investors who bought iCap investments at the recommendation of a financial professional and would like to learn more about their options may contact the Rosca Scarlato investor rights lawyers Alan Rosca or Paul Scarlato for a free, no obligation case evaluation via email at [email protected], toll free at 888-998-0530, or by leaving a message using a contact form on this page.

SOURCE Rosca Scarlato LLC

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