Function (X) Inc. – Recovery of Investment Losses

Investigating Potential Claims involving Function (X) Inc. 

The White Law Group is investigating potential securities claims involving broker-dealers who may have unsuitably recommended Function (X) Inc. to investors.

On February 24, 2017 FUNCTION(X) INC. (NASDAQ: FNCX), a social publishing and interactive media platform, announced the pricing of an underwritten public offering of 4,571,428 shares of its common stock at a price to the public of $1.05 per share, according to a press release. 

The gross proceeds to Function(x) Inc. from this offering were expected to be approximately $4,800,000. 

Aegis Capital Corp. and Laidlaw & Company (UK) Ltd were reportedly joint underwriters for the offering.

According to the filings with the SEC on November 15, 2018, the regulator has since revoked the company’s registration after it failed to file any periodic reports with the Commission subsequent to its fiscal quarter ending December 31, 2016.

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 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 a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be found liable for investment losses in a FINRA arbitration claim. Fortunately, FINRA provides an arbitration forum for investors to resolve such disputes.

Recovery of Investment Losses

If you are concerned about your investment in Function (X) Inc., you may be able to file a complaint against your brokerage firm. Please contact the securities attorneys at The White Law Group at 1-888-637-5510 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. The firm represents investors throughout the country in claims against their brokerage firm.

For more information on the firm and its representation of investors, visit ?www.WhiteSecuritiesLaw.com.