Investigating Potential Lawsuits – uBiome Inc.
Are you concerned about your investment in uBiome Inc.? If so, the securities attorneys at The White Law Group may be able to help you by filing aFINRA Arbitration claim against the brokerage firm that sold you the investment.
The company was reportedly founded in 2012, and raised $105 million from investors to explore the microbiome, according to Business Insider.
The FBI reportedly raided uBiome’s headquarters in April 2019, in connection with the company’s billing practices. Then, the company’s top executives allegedly departed, according to reports.
According to SEC filings, uBiome Inc. filed aForm D to raise capital from investors in 2016.
Alternative Investments, such as those sold using the SECs Reg D exemption (like, apparently, uBione) 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 uBiome 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 recommendinghigh-risk private placements 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 UBiome 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 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.