The suit, filed by three victims of the Nightingale Properties fraud perpetrated via the CrowdStreet platform, claims the Austin-based firm operated for years as an unregistered broker-dealer, selling and marketing securities and collecting fees without taking the proper steps to protect investors. The investors are asking...
Angry investors are going after crowdfunding platform CrowdStreet, seeking to recoup more than $1 billion in funds. Three victims in Elie Schwartz’s Nightingale Properties case, who each lost at least $25,000, filed a class-action lawsuit in Texas, where CrowdStreet is based, Bisnow reported. Former CrowdStreet chief...
Investors say real estate crowdfunding platform CrowdStreet helped facilitate a multimillion-dollar fraud by way of a Chicago office building, and now they want a refund. A group of 125 investors is taking legal action against the Austin-based investment platform, alleging it facilitated fraud in Nightingale Properties’...
A group of CrowdStreet investors is coming after the real estate crowdfunding platform, accusing it of negligence in an attempt to recoup their investment in Nightingale Properties' $130M purchase of a Chicago office building. In a statement of claim filed this week with the Arbitration Service...
Attorneys: CrowdStreet Aggressively Marketed Failed Investment Fund Without Proper Due Diligence; Offering Was Venture of Nightingale Properties, Currently at Center of Separate SEC and DOJ Fraud Cases Involving Other CrowdStreet Offerings. PORTLAND, OR – MARCH 5, 2025 – 125 investors brought a major action against the...
Law360 (October 29, 2024, 9:26 PM EDT) -- A New York federal judge has given his preliminary blessing to a settlement worth up to $9 million resolving a class action by Yieldstreet investors who accused the online platform of offering "riskier-than-junk-bond investments" to the public...
Nine months after FINRA began a process to publicly label firms as ‘restricted’ if they or their brokers had a significant history of misconduct, no firms have received that scarlet letter, according to a review of the regulator’s BrokerCheck database. FINRA’s Rule 4111, which created the...
The U.S. Department of Labor on Tuesday said it has finalized a fiduciary rule governing retirement accounts that will close loopholes and widen the swath of financial advisors who must put their clients interests ahead of commissions or face penalties and restitution. The final rule, which...
When you walk into a financial adviser’s office, you expect them to put your best interests above all else — in the same way a doctor would, rather than, say, a car salesman. But many people don’t realize that the rules financial professionals must follow...
Some financial advisors did not get a lot of love from the White House bully pulpit on Tuesday when President Joe Biden rolled out the Department of Labor’s newly proposed fiduciary rule governing retirement accounts. The proposed rule would “close loopholes” and impose a requirement that...
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