Securities Investigation – Alliance BioEnergy Plus Inc.
Are you concerned about your investment in Alliance BioEnergy Plus? The White Law Group is investigating potential claims involving broker dealers who may have unsuitably sold Alliance BioEnergy Plus to investors.
According to a press announcement on Tuesday, Alliance BioEnergy Plus, Inc. (OTCQB: ALLM) announced that the Company has filed for protection under Chapter 11 of the Federal Bankruptcy Act.
The company, based in West Palm Beach, FL, focuses on technologies in the renewable energy, biofuels, and new technologies sectors, according to Bloomberg.
According to the press release, the board has determined that the Company has no alternative other than to seek protection under a Chapter 11 Bankruptcy filing in order to deal with its current debt and to stay and eliminate certain pending and threatened lawsuits against the Company.
Investigating Potential Claims
Brokerage firms are required to perform due diligence on any offering they recommend and to ensure that all recommendations made are suitable in light of the client’s age, investment experience, net worth, income, and investment objectives.
If a firm fails to perform due diligence or makes an unsuitable recommendation, the broker-dealer can be held responsible for any losses in a FINRA arbitration claim.
FINRA can help resolve problems and disputes through two non-judicial proceedings: arbitration and mediation. FINRA’s Dispute Resolution forum handles nearly all of the securities-related arbitrations and mediations in the United States.
If you have concerns regarding your investment in Alliance BioEnergy Plus 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.