August 16, 2020 Comments Off on Echo Therapeutics, Inc. Investment Losses Blog, Current Investigations

Echo Therapeutics, Inc. Investment Losses

Echo Therapeutics, Inc. Investment Losses, featured by top securities fraud attorneys, The White Law Group

Concerned about your investment in Echo Therapeutics, Inc.?

Are you concerned about your investment losses in Echo Therapeutics, Inc. ? 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.

Echo Therapeutics Inc. is a specialty transdermal therapeutics and diagnostics company. The company filed a form D to raise capital from investors in 2016, according to filings with the SEC. The total offering amount was purportedly $6,000,000.

According to a Form 8-K filing in April 2017, due to its poor financial condition the company was unable to make payments on the 10% senior secured convertible notes.

Echo Therapeutics noted that after engaging  in prolonged discussions to obtain new financing and obtain appropriate forbearance and/or waivers from the investors holding Notes, it was unsuccessful in raising financing. The Company further noted it was unable to pay rent, pay staff, and was also at risk of losing its patents. 

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 pharmaceutical investments such as Echo Therapeutics, Inc. is that they typically involve a high degree of risk. The research and development process for pharma companies often involves costly and lengthy testing trials that yield specific data. If the expected data or end points are not met, that could be bad news for 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 investment losses in Echo Therapeutics, Inc., 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.

 

 

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