October 4, 2018 Comments (0) Blog, Securities Fraud

FINRA Arbitration Claim Filed against Laidlaw & Co.

Laidlaw & Co.
(Last Updated On: October 10, 2018)

The White Law Group has filed a Claim against Laidlaw & Co. Alleging Over-concentration in High-risk Investments.

 The White Law Group has filed and submitted a FINRA claim on behalf of a Florida resident alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision against Laidlaw & Co.

The claim further alleges that Laidlaw & Co. unsuitably invested the client in the following high risk start-ups, private stock and restricted stock offerings, restricted Note offerings, private placement investments:

Aethlon Medical, Inc.
Actinium
Boston Therapeutics
5G Investment, LLC.
Alliqua, Inc.
Aspen Group, Inc.
Brazahav Resources, Inc.
Fusion Telecoms International, Inc.
Protea Biosciences Group, Inc.
Aeolus Pharmaceuticals, Inc.
Biosig Technologies, Inc.
Contravir Pharmaceuticals, Inc.
Medovex Corp.
Relmada Therapeuticals
Sevion Therapeutics
Spectrascience Inc.
Spherix Inc.

The claim seeks damages between $1,000,000 and $2,000,000.

It is alleged Laidlaw & Co. failed to properly supervise the broker of record, and failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor. Further, the claim alleges that Laidlaw & Co. is liable for its role in a “pump and dump” scheme driven by an investor group led by Barry Honig which Laidlaw assisted and enabled to the tune of millions of dollars in profit at the expense of the investing public including Claimant.

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.

According to D. Daxton White, managing partner of The White Law Group, ” It is unfortunate, but we believe that many more investors have suffered devastating losses due to the broker-dealer’s failure to supervise and don’t realize they have recovery options.”

“Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that the broker violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.”

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.

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 The White Law Group and the claim filed against Laidlaw & Co., please contact the firm at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.

error: Content is protected !!