Are you concerned about investment losses in Avalanche International Corporation (AVLP)? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Resolution Claim against the brokerage firm that sold you the investment.
According to their website, Avalanche International Corporation (AVLP) is a holding company incorporated in the state of Nevada with operations only at the subsidiary level. Their wholly-owned subsidiary, Smith and Ramsay Brands, LLC, operates as a manufacturer and distributor of flavorized eLiquids for electronic vaporizers and eCigarettes.
According to a recent FINRA Department of Enforcement complaint, in November 2014, Hallmark Investments, Inc. allegedly sold 39,600 unregistered shares of Avalanche International Corp. (AVLP), which the Firm had purportedly acquired from a consulting agreement, to approximately fourteen Firm customers at allegedly fraudulently inflated prices. According to the complaint, Hallmark also allegedly made material misrepresentations and omitted material facts.
To conceal its misconduct, Hallmark (according to FINRA) issued trade confirmations to fourteen customers in connection with the sale of the 39,600 AVLP shares that allegedly failed to disclose that Hallmark was acting as a principal for its own account and the price inflation. FINRA also claims that Hallmark charged excessive mark-ups.
For FINRA’s full findings see FINRA case #2014039352302.
The foregoing information, which is all publicly available, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For a free consultation with a securities attorney, please call The White Law Group at 1-888-637-5510.
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