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Written by 3:41 pm Blog, Current Investigations

Investor Alert: Lion Biotechnologies (nka Ioavance Biotherapeutics Inc.)

Investor Alert: Lion Biotechnologies (nka Ioavance Biotherapeutics Inc.), featured by top securities fraud attorneys, The White Law Group

Lion Biotechnologies – Recovery of Investment Losses

The White Law Group is investigating potential securities claims involving broker-dealers who may have unsuitably recommended Lion Biotechnologies to investors.

The company reportedly filed a form D to raise capital from investors in 2016. The total offering amount sold was purportedly $100,000,000.

The company was apparently the subject of a class action lawsuit last year brought by investors alleging, among other things, that defendants Lion Biotechnologies, Inc. (n/k/a Iovance Biotherapeutics, Inc.), and executives violated the federal securities laws by purportedly making false and misleading statements regarding Lion. Defendants deny all allegations of wrongdoing or liability whatsoever, (Rabkin v. Lion Biotechnologies, Inc., et al., Case No. 3:17-cv-02086-SI,United States District Court for the Northern District of California.)

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 Lion Biotechnologies, 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. 

These claims are distinct from the class action filed directly against Lionshare and could be pursued concurrently.

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.

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