Fallcatcher Inc. – Securities Investigation
According to a press announcement last week, on May 22, 2019 the Securities and Exchange Commission charged Fallcatcher Inc., a purported biometric device and software startup company, and its founder, with allegedly defrauding over fifty investors in the Philadelphia area of at least $5 million. The SEC reportedly secured an emergency asset freeze to preserve investor funds.
The company’s founder purportedly falsely told investors that well-known insurers and state governments had expressed interest in Fallcatcher’s technology, according to the SEC’s complaint.
The SEC further alleges that the company’s founder told investors that this technology tracked patients receiving opioid addiction treatment to prevent medical billing fraud. The SEC further alleges that investors were reportedly shown a fabricated letter of interest from a prominent insurance company expressing an interest in starting a pilot program using Fallcatcher’s technology.
In reality, however, the SEC’s complaint alleges that no insurers or state governments had ever expressed any interest in either Fallcatcher or its technology.
This information is all publicly available on the SEC’s website and provided to you by The White Law Group.
If you have concerns regarding your investment in Fallcatcher 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 is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois.
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