How Can I Recover My Investment Losses In The ICON Equipment and Corporate Infrastructure Fund Fourteen, LP?
The Wolper Law Firm is currently representing clients in the recovery of investment losses realized in the ICON Equipment and Corporate Infrastructure Fund Fourteen, LP (also known as the “ICON Fund”) and recently began filing arbitration claims to recover investor losses.
The ICON Equipment and Corporate Infrastructure Fund Fourteen, LP is managed by ICON Capital, LLC, which was founded in 1985. Over the years, ICON Capital has brought to market several offerings of the ICON Fund. The ICON Equipment and Corporate Infrastructure Fund Fourteen, LP is an investment opportunity that is commonly referred to as an equipment leasing and finance fund. The ICON Fund was issued in 2010 at a per interest price of $1,000. The total capital raised from investors was $400,000,000.
These types of funds provide investors with the opportunity to invest in equipment leases and loans and other types of investments in equipment that are leased, owned or operated by domestic and global businesses, which are otherwise typically invested in by large financial institutions, banks, and hedge funds. These funds are a non-traditional (or alternative) asset class because the assets in these funds are not correlated to traditional assets such as stocks and bonds.
Many Financial Advisors and brokerage firms marketed and sold the ICON Equipment and Corporate Infrastructure Fund Fourteen, LP as a safe means to generate portfolio income that would return principal to investors at maturity. Unfortunately, however, the ICON Fund has declined nearly 90% with little prospect of recovery. As of December 2018, the valuation of the ICON Fund is approximately $95.60 per beneficial interest as compared to its its $1,000 offering price.
The representations made by brokerage firms and Financial Advisors to their clients are completely at odds with the prospectus of the ICON Fund, which provides:
- “Investing in our Interests involves a high degree of risk. You should purchase our Interests only if you can afford a complete loss of your investment.”
- “Our Interests are not liquid and your ability to resell your Interests will be limited by the absence of a public trading market and is anticipated to be at least nine years from the date our offering commences.”
Prior to recommening investments, brokerage firms and Financial Advisors are required to perform sufficient due diligence to ensure that the investments are suitable and appropriate for the customer. Often times, when an investment declines precipitously, as is the case with the ICON Fund, it is later discovered that red flags were ignored by the brokerage firm that, if known, would have discouraged the investor from participating in the investment opportunity. Financial Advisors may also turn a blind eye to red flags in order to secure a transaction which, in the case of a private placement, pays higher commissions than traditional investments.
If you invested in the The ICON Equipment and Corporate Infrastructure Fund Fourteen, LP and experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at email@example.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.