Purshe Kaplan to Pay $1.6 Million Settlement

Posted on April 14th, 2021 at 10:06 AM
Purshe Kaplan to Pay $1.6 Million Settlement

From the Desk of Jim Eccleston at Eccleston Law LLC:

Purshe Kaplan Sterling Investments Inc., agreed to pay 50 clients who had filed arbitration claims with the Financial Industry Regulatory Authority (FINRA). 

Since 2017, Purshe Kaplan has agreed to pay $16 million in legal settlements and restitution to clients, with the vast majority stemming from one advisor’s sale of alternative investments to a Native American tribe in Michigan. 2021 is the third straight year that Purshe Kaplan is reporting a million-dollar-plus settlement.

No reason for the $1.6 million settlement with investors was given, but Purshe Kaplan was one of the 60 or so firms that sold private placements of GPB Capital. J. Peter Purcell, Purshe Kaplan's CEO, stated, "The settlement was not related to GPB claims, and the firm had minimal exposure to the matter." 

Eccleston Law LLC represents investors and financial advisors nationwide. Please contact us to discuss any issues that you may have.

Tags: eccleston, settlement, finra, purshe kaplan

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