Alzamend Neuro Inc. (ALZN) Investigating Potential Lawsuits
Are you concerned about your investment in Alzamend Neuro 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.
Alzamend Neuro is reportedly an early clinical-stage biopharmaceutical company reportedly focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, including Alzheimer’s.
The company (ALZN) reportedly raised $12 million in an initial public offering (IPO) on Tuesday, June 15th 2021, issuing 2,500,000 shares at $5.00 per share.
Spartan Capital Securities, LLC acted as the underwriter for the IPO and was co-manager, according to Market Beat.
From its opening price on June 15, 2021 through the end of November 2021 shares in the stock has dropped to $1.94 per share, representing significant losses for investors.
According to SEC filings, the company also filed a Form D to raise capital from investors in 2017. According to the filings, the offering type was equity and the total offering amount was purportedly $4,000,000.
Potential Lawsuits to Recover Financial Losses
The White Law Group is investigating potential securities fraud claims involving FINRA registered brokerage firms who may have unsuitably recommended Alzamend Neuro Inc. to investors.
The problem with pharmaceutical and biotech investments 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. They must ensure that all recommendations are suitable for the investor. Recommendations should be in line with the investor’s age, risk tolerance, net worth, and investment experience.
If you are concerned about your investment in Alzamend Neuro Inc. the White Law Group may be able to help you. To speak with a securities attorney about your options, please call The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.