Frontline Technology Solutions Files for Chapter 11 Bankruptcy Protection
The White Law Group is investigating potential FINRA lawsuits involving broker dealers who may have unsuitably recommended Frontline Technology Solutions to investors.
Frontline Technology Solutions , based in Winter Park, FL, develops social multiplayer mobile games. The company reportedly filed a form D to raise capital from investors in 2017. The total offering amount was purportedly $3,250,000.
According to public records, the company filed for voluntary Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Middle District of Florida on October 29, 2020.
Alternative investments such as this one are complex and inherently risky products. Unfortunately for investors, many investments have taken a hit due to the Covid-19 global pandemic, and some have suspended distributions during this uncertain time.
Compared to traditional investments, such as stocks, bonds and mutual funds, alternative investments are significantly more complex and often better suited for sophisticated and institutional investors.
High commissions could be a motivating factor for unscrupulous financial advisors to sell private placement investments regardless of whether the investment is in line with the client’s investment objectives and profile. Moreover, the total commissions and expenses make it difficult for the investment to perform in line with the market.
They also tend to be illiquid. Investors looking to sell these investments often have difficulty finding a buyer, and if they are able to find one can suffer significant losses on the sale.
Filing a Complaint Against your Brokerage Firm
Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Recommendations should only be made if the investment is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance.
Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through FINRA arbitration.
Free Consultation with a Securities Attorney
If you are concerned about your investment in Frontline Technology Solutions , you may be able to file a complaint against your brokerage firm. Please call the securities attorneys of 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 Franklin, Tennessee.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.