Securities Investigation – Augme Technologies, Inc. (Hipcricket)
Are you concerned about your investment in Augme Technologies Inc.? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
According to reports Augme Technologies, Inc. (OTCQB: AUGT) was a technology and services leader in interactive media and mobile marketing and mobile advertising. The Company announced a name change to Hipcricket, Inc. in 2013.
In 2015, the Bellevue, Washington based company reportedly filed voluntary petition under Chapter 11 in the United States Bankruptcy Court of the District of Delaware along with a motion seeking authorization to approve bid procedures under Section 363 of the U.S. Bankruptcy Code.
Hipcricket entered into an asset purchase agreement with SITO Mobile Ltd. as the “stalking horse” bidder to acquire substantially all of the Company’s assets for aggregate consideration of approximately $4.5 million, according to reports.
Investigating Potential Claims
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for unsuitably recommending high-risk investments, like Augme Technologies Inc. to investors.
Brokerage firms are required to perform due diligence on any offering they recommend and to ensure that all recommendations made are suitable in light of the client’s age, investment experience, net worth, income, and investment objectives.
If a firm fails to perform due diligence or makes an unsuitable recommendation, the broker-dealer can be held responsible for any losses in a FINRA arbitration claim.
FINRA can help resolve problems and disputes through two non-judicial proceedings: arbitration and mediation. FINRA’s Dispute Resolution forum handles nearly all of the securities-related arbitrations and mediations in the United States.
If you have concerns regarding your investment in Augme Technologies Inc. and would like to speak with a securities attorney about your options, please call The White Law Group at 888-637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visithttp://www.whitesecuritieslaw.com.