GPB Capital Holdings LLC faces renewed allegations of fraud by a Massachusetts auto executive
whom the alternative asset manager forced from his leadership role earlier this year.
David Rosenberg, the executive, in an updated complaint filed in Norfolk County Superior Court
in Massachusetts, claims New York-based GPB engaged in fraudulent activities to finance its
acquisitions of auto dealerships, including the Prime Motor Group controlled by his family and
which he led. In raising more than $1.5 billion from investors, he claims the firm “engaged in a
massive securities fraud.”