New York, NY (Law Firm Newswire) April 2, 2015 - Zamansky LLC announces that it is investigating Lynn Tilton’s “Zohar” Loan Funds, the collateralized loan funds managed under the names Patriarch Partners, LLC, Patriarch Partners XIII, LLC, Patriarch Partners XIV LLC and Patriarch Partners XV, LLC (“Zohar Funds”). The investigation concerns the allegations against investment advisor Lynn Tilton and the Zohar Funds made by the U.S. Securities and Exchange Commission (“SEC”).
On March 25, 2015, the SEC filed an Administrative Proceeding alleging that Tilton issued misleading values of the Zohar Fund’s CLO holdings to inflate management fees charged to the funds. The SEC alleges that Tilton reaped over $200 million in excessive fees by failing to follow procedures stated in its offering documents for accounting to investors. The Zohar Funds raised over $2 billion in assets from investors, according to the SEC.
According to investment fraud attorney Jake Zamansky, the SEC allegations raise serious issues over how the Zohar Funds were managed and whether investors were harmed. Managers of private equity and hedge funds are generally given a lot of discretion, but with that discretion comes serious fiduciary responsibility to investors, Zamansky states. Any investor in the Zohar Funds should have their investment and situation reviewed by an experienced securities attorney, Zamansky states.
What Investors Can Do
If you are an investor in the Zohar Funds held as Patriarch Partners, and wish to have your investment 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, hedge fund and ERISA class action litigation, and FINRA securities arbitration. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
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Jake Zamansky, 212-742-1414