Marathon Patent Group Inc. – Securities Investigation
Are you concerned about your investment in Marathon Patent Group 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.
Marathon Patent Group, Inc. (NASDAQ: MARA) is an IP licensing and commercialization company, according to its website.
On June 28, 2018, the company announced that its proposed merger with Global Bit Ventures, Inc. (“GBV”) was off the table. “Due to recent weakness in the bitcoin markets generally, we determined that proceeding with this transaction would not be in the best interests of our shareholders. Accordingly, the Company’s Board of Directors voted unanimously that it would not agree to extend the closing date, nor seek shareholder approval of the transaction, said Merrick Okamoto, Marathon’s Chairman and CEO.”
According to SEC filings, Marathon Patent Group Inc. filed a Form D to raise capital from investors in 2014 in Alexandria, VA. The total offering amount was $ 6,503,264.
Marathon Patent Group Inc. is a Regulation D private placement investment. Investments such as these are typically sold by brokerage firms in exchange for a large up front commission. High fees can range from 7-10%, as well as additional “due diligence fees” that can range from 1-3%.
The problem with private placement investments such as Marathon Patent Group Inc. is that they typically involve a high degree of risk. They are also often sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.
Investigating Potential Claims
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk private placements, like Marathon Patent Group Inc. to investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim.
If you have concerns regarding your investment in Marathon Patent Group 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, 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.