Investigating Potential Claims Involving ForceField Energy
Did you lose money investing in ForceField Energy at the recommendation of your broker? If so, the attorneys at The White Law Group may be able to assist you in recovering your losses by filing a FINRA Arbitration Claim against the brokerage firm that sold you the investment
According to its website, ForceField Energy Inc. and its subsidiaries comprise company whose products and solutions focus on sustainable energy solutions and improved energy efficiency. ForceField is a distributor of LED and other lighting products for a number of premier LED lighting manufacturers; and through its subsidiary, American Lighting, has completed lighting installations and retrofits as well as energy efficiency upgrades, for numerous high profile concerns in a variety of industries.
The Securities and Exchange Commission (SEC) announced fraud charges in May 2016 against 10 individuals allegedly involved in schemes to trick investors into buying shares of ForceField Energy Inc. stock.
The schemes were allegedly fraught with cash bribes and other kickbacks to registered representatives and unregistered brokers who solicited investors to buy stock in the company.
The SEC alleges that investors were unaware those soliciting them were being paid by a ringleader -the company’s then-chairman of the board- to steer them to the stock. According to reports, some of the perpetrators attempted to evade law enforcement by going so far as to communicate with prepaid disposable “burner” phones and encrypted, content-expiring text messages. The complaint charged the defendents with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that FINRA rules were violated and the firm failed to adequately supervise the advisor, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.
If you suffered losses investing in ForceField Energy, you may be able to recover some of your losses. For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.
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 more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.