May 15, 2013 Comments (0) Blog, Securities Fraud

Investigation into Fisker Automotive Investment Losses

Have you suffered invested losses in Fisker Automotive Inc.? If so, the securities attorneys of The White Law Group May be able to help you recover your losses through a FINRA arbitration claim against the brokerage firm that sold you the investment.

According to CNN Money the luxury hybrid and electric automaker, Fisker Automotive, is on the verge of bankruptcy and missed its first payment to the Department of Energy on a $192 million dollar loan. In addition, Fisker has laid off 75% of its employees and has suspended production. According to their website, Fisker automotive was founded in 2007 and is based in Anaheim, California.

The White Law Group is investigating the liability that brokerage firms may have for recommending Fisker Automotive Investments. According to SEC filings, one such brokerage firm, Advanced Equities, Inc., sold approximately $103 million in private placement offerings in Fisker Automotive Holdings Inc.

Private placements, like Fisker Automotive, are often high-risk investments intended for accredited investors. Brokerage firms are required to make suitable recommendations that are consistent with a client’s age, financial objective, liquidity needs, risk tolerance, and investment experience. Additionally, brokerage firms have a fiduciary duty to their clients to provided adequate due diligence on any investment offered. Based on what is known about Fisker Automotive, it appears that the brokerage firms that sold the investment failed to perform adequate due diligence on the offering and may be held liable for financial losses.

If you have concerns regarding your investment in Fisker Automotive and would like to speak with a securities attorney, please call The White Law Group at 312-238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, visit http:/www.whitesecuritieslaw.com

 

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