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Have Goldline ever been sued? Are there many lawsuits filed against Goldline? Are they one of the best gold investment companies from Los Angeles and US?
Read my guide below to find out!
- Lawsuit 1- TYRONE MOORE VS GOLDLINE, INC ET AL
- Lawsuit 2- Goldline Customers Get $4.5 Million Refund
Table of Contents
Lawsuit 1- TYRONE MOORE VS GOLDLINE, INC ET AL
On August 29, 2018, Tyrone Moore initiated legal proceedings by filing a wrongful termination lawsuit against Goldline, Inc. The complaint was submitted to the Los Angeles County Superior Court at the Stanley Mosk Courthouse in Los Angeles, California. The current case status is listed as “Other.”
Lawsuit 2- Goldline Customers Get $4.5 Million Refund
A Los Angeles County judge issued an injunction Wednesday requiring Goldline International, one of America’s largest precious metal dealers, to pay up to $4.5 million in customer refunds. Santa Monica’s city attorney sued the company, alleging it deceived customers into purchasing overpriced gold coins through misleading sales tactics.
The lawsuit claims Goldline targeted elderly consumers with false statements, including that the government could confiscate gold bullion while their marked-up coins were supposedly immune. The company allegedly concealed price markups exceeding 50 percent and made misleading promises about tax advantages and privacy benefits that didn’t exist.
California filed a 19-count criminal complaint against Goldline in 2011 with similar allegations. The civil case resulted in the dismissal of all criminal charges in exchange for the settlement.
Under the injunction, Goldline must disclose actual price markups to customers and stop claiming the government can seize gold bullion. The company must also pay $800,000 into a future claims fund, and a court-appointed monitor will ensure compliance.
Goldline defended itself by stating that only 43 customers were dissatisfied, representing less than 0.001 percent of their customer base during the relevant three-year period. The company has agreed to allow refunds for dissatisfied customers.
Goldline Lawsuit Guide- Everything You Need to Know (Regularly Updated)! Conclusion
It’s not possible to do business with Goldline as they’re now out of business. While they were active they were a legitimate gold IRA company, i.e., not a scam or a pyramid scheme.
But, even if they were in business I’d hardly recommend you work with them as there’re so many good gold investment companies from the US you can work with, safely and securely.
References:
- TYRONE MOORE VS GOLDLINE, INC ET AL- https://unicourt.com/case/ca-la23-tyrone-moore-vs-goldline-inc-et-al-294488
- Goldline Customers Get $4.5 Million Refund- https://www.courthousenews.com/goldline-customers-get-4-5-million-refund/
Nikola Roza
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.
