Investor Rights Lawyers File Legal Claims on Behalf of Investors in Tyler Tysdal's Cobalt "Athlete Loan" Program

PHILADELPHIA and CLEVELAND, May 4, 2021 /PRNewswire/ -- The investor rights lawyers at the Goldman Scarlato & Penny PC law firm ("GSP") have filed claims for compensation on behalf of investors in Cobalt Sports Capital, a business co-founded and promoted by Tyler Tysdal.

In December 2019, Tysdal and an associate were criminally indicted for 64 counts of securities fraud in connection with their Cobalt business. The criminal case, which is pending, followed a regulatory action against Tysdal and others by the Securities and Exchange Commission ("SEC"), in September 2019. The SEC and the Colorado prosecutors accused Tysdal and others of misusing Cobalt investor money, among others.

In their case, the Cobalt investors alleged that the respondent, a Colorado-based investment advisory firm, failed to conduct adequate due diligence before recommending the Cobalt investments to its customers. The Cobalt investors further allege that, upon Cobalt's collapse, the advisory firm failed to advise them of its own liability for the allegedly negligent due diligence, and instead urged the investors to do nothing and allow the firm to pursue claims on their behalf, in an attempt to conceal its own responsibility for the investors' losses.

The Cobalt investors are represented by Goldman Scarlato & Penny investor rights lawyers, who have been in touch with Cobalt investors for months, have collected a considerable volume of records, and have spoken with individuals with knowledge. They encourage any individuals with knowledge of the facts surrounding Cobalt to contact them with useful information. The case was filed in AAA arbitration, case no. 012100036689 (2021).

What Cobalt Investors May Do

Cobalt investors may contact attorney Shawn Rexroad or his colleagues for a free, no-obligation evaluation of their options or to provide information, toll free at 888-998-0530 or [email protected].

The GSP lawyers typically work on a contingency fee basis, advance case expenses, and only seek payment for their fees and expenses if and when they obtain compensation for their clients. They bring decades of experience between them in investigating and litigating investment fraud and misconduct cases in courts and arbitration tribunals throughout the country.

Visit https://investorlawyers.org for more information about the firm and GSP attorneys' background and admissions to practice law. This release may be deemed to include Attorney Advertising. There has been no finding of liability as to the allegations herein.

Media Enquiries: 888-998-0530

SOURCE Goldman Scarlato & Penny PC Law Firm