Investor Defender attorneys are carefully watching recent news regarding BlackGold Opportunity Fund LLC and BlackGold Opportunity Offshore Fund LLC. On April 02, Bloomberg News reported that an auditor’s examination revealed losses that were almost triple initial reports.
The revisions include a significant loss adjustment from the 6% decline originally reported up to 17% , nearly double the average loss of junk bonds in oil and gas for the period. Representatives cite difficulty in valuing energy bonds at the height of the market’s turmoil for the change. However, these losses were reported only weeks after investors were reassured that the funds were doing well. The $2 billion BlackGold Funds are hedge funds partially owned by KKR & Co., and managed by BlackGold Capital Management, Inc.
Investors who could not afford to lose a substantial portion of their investment in the BlackGold Opportunity Fund and BlackGold Opportunity Offshore Fund should never have made the investment, and may have claims for losses they sustained. Our experienced securities attorneys are available to discuss your particular situation and your options. Lead investor defender attorney Robert Banks is nationally recognized for representing individual and institutional investors to recover financial losses in FINRA Arbitration and in court. He has been doing so with great success since 1985.