Concerned about your investment in Enumeral Biomedical Corp.?
Are you concerned about your investment in Enumeral Biomedical, Corp.? 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.
According to a press announcement in August 2014, Enumeral Biomedical Holdings, Inc. (OTCQB:ENUM) announced the completion of a merger between Enumeral Biomedical Corp. and a subsidiary of Enumeral Biomedical Holdings, Inc., formerly known as Cerulean Group, Inc.
The company was reportedly focused on discovering and developing novel antibody immunotherapies that help the immune system attack diseased cells.
At the time of the merger, Enumeral reportedly closed $21.5 million in private placement financing.
Unfortunately for investors, the company filed for Chapter 11 bankruptcy protection in 2018 and reportedly sold its assets to Bay Area-based Xoma Corporation for $1.6 million.
Enumeral, which had reportedly had financial issues for some time, announced in May 2017 that it was running out of cash. At the time the company reported that it only had enough funds to finance operations into June. The company claimed that if it wasn’t able to raise additional funds it would be forced to cut its staff and wind down operations. Enumeral was reportedly booted out of its Cambridge office space in August 2017 after it failed to pay rent.
Filing a Complaint against your Brokerage Firm
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk investments to investors.
The problem with technology investments such as Enumeral Biomedical Corp. is that they typically involve a high degree of risk. The research and development process for tech companies often involves costly and lengthy clinical testing trials that yield specific data. If the expected data or end points are not met, that could be bad news for investors.
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 Enumeral Biomedical Corp. 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.