The U.S. District Court for the Western District of Texas has given preliminary approval to a $46 million class settlement in Kinnie Ma et al. v. Ascendant Capital, LLC et al. This settlement will benefit investors who purchased limited partnership units in various GPB funds between January 1, 2013, and December 31, 2018.
After an extensive mediation with former U.S. District Court Judge Layn Phillips, the settlement resolves claims against auditing firms CohnReznick LLP, Crow LLP, Margolin Winer & Evens LLP, RSM US LLP, and WithumSmith+Brown, PC. Claims against GPB and several other defendants will continue.
Stoll Berne’s Tim DeJong is serving as lead counsel for the plaintiffs on the auditor claims, with support from Steve Larson and Elizabeth Kinsman.
