Concerned about your investment in Miramar Labs, Inc.?
Are you concerned about your investment losses in Miramar Labs 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.
Miramar Labs, a global device company, manufactures medical devices for addressing dermatologic medical conditions and electromechanical solutions for cosmetic surgeries, cancer, and disease treatments.
The company filed a form D to raise capital from 20 investors in 2016, according to filings with the SEC. The total offering amount sold was purportedly $9,377,415.
The company was reportedly acquired by Sientra, Inc. (SIEN), a medical aesthetics company, in 2017, for $20 million in upfront cash plus contractual rights for potential contingent payments of up to $14 million in cash upon the achievement of certain milestones, which would be paid to holders of Miramar equity, debt and other obligations.
According to reports, Miramar Labs shareholders anticipated to receive $0.3149 per share in cash in exchange for each share of their shares.
Several class action lawsuits were reportedly filed in connection with the merger, alleging the company failed to conduct a fair process and the possibility that the proposed transaction undervalued the company.
According to Market Watch, as of August 31, shares of Sientra, Inc. are down more than 50% in the past 12 months.
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 and biotechnology investments such as Miramar Labs Inc. is that they typically involve a high degree of risk. The research and development process for pharma and biotech 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.
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.
These claims are distinct from the class action filed directly against Miramar Labs Inc. and could be pursued concurrently.
If you have concerns regarding investment losses in Miramar Labs 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.