Lightstream Resources Ltd. LSTMF

RE:RE:RE:RE:RE:RE:RE:RE:RE:Lighstream lawsuit -white law group

[Oldfart74]

DantesInferno wrote: I was unaware of this Lawsuit until I read the board this morning.....

Coincidently I spoke to my broker Friday....as I wanted to get this P.O.S.  out of my portfolio and use the loss.......and he couldn't sell it?    What's up with that? 

I guess I'll wait to see if we get anything.   

Lightsream has no assets, not even a pencil.  Every asset was sold to Ridgeback in exchange for the secured notes payable.  The Receiver is in the process of winding down Lightstream.
with regards to the White Law legal action, it relates to suing the US brokers etc for improper advice.

"The White Law Group is  investigating the liability that broker-dealers and financial professionals may have for improperly recommending Lightstream investments to its clients.

The White Law Group continues to investigate FS Investment Funds and other BDCs. For more information on FS investments, go here. For a detailed look at BDCs, go here.

Brokerage firms and financial advisors have a fiduciary duty to perform adequate due diligence on any investment they recommend and to ensure that such recommendations are appropriate for their client in light of that particular clients’ age, income, investment experience, investment objectives, and net worth."