Concerned about your investment in MabVax Therapeutics Holdings, Inc.?
Are you concerned about your investment in MabVax Therapeutics Holdings? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
MabVax Therapeutics Holdings Inc. (NASDAQ: MBVX), headquartered in San Diego, CA, is a clinical-stage biotechnology company focused on the development of antibody-based products to address unmet medical needs in the treatment of cancer and pancreatitis, and has three products in Phase 1 clinical trials, according to reports.
The company reportedly filed for bankruptcy protection on March 21, 2019, blaming the company’s deterioration on an alleged pump-and-dump scheme, according to the Wall Street Journal.
According to the article, “MabVax said it is one of the three companies connected to a U.S. Securities and Exchange Commission lawsuit accusing a group of investors of stock manipulation.”
The White Law Group continues to investigate the liability that FINRA registered brokerage firms may have for improperly recommending high-risk pharma stocks, like MabVax Therapeutics to investors.
The problem with pharmaceutical stocks such as MabVax is that they typically involve a high degree of risk. The research and development process for pharma companies often involves costly and lengthy clinical testing trials that yield specific data. If the expected data or end points are not met, the stock can drop drastically.
Without a strong understanding of the company and its basic operations, investors may be looking at serious losses.
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 investment losses in MabVax Therapeutics Holdings, please call the securities attorneys at The White Law Group for a free consultation 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.