Investigating Potential Claims – MabVax Therapeutics
Are you concerned about your investment in MabVax Therapeutics? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
MabVax Therapeutics Holdings, Inc. (NASDAQ: MBVX) is reportedly a clinical-stage biotechnology company focused on the development of antibody-based products to address unmet medical needs in the treatment of cancer.
According to a press announcement on January 30, MabVax Therapeutics announced that it received notice that the Securities and Exchange Commission was conducting an investigation and examination relating to certain of the Company’s registration statements (and amendments thereto). The Company stated in the press release its intentions to cooperate fully with the SEC’s examination.
According to SEC filings, MabVax Therapeutics filed a Form D to raise capital from investors in 2014 in San Diego, CA. The total offering amount was $10,000,000.
Investments such as these are typically sold by brokerage firms in exchange for a large up front commission. High fees can range from 7-10%, as well as additional “due diligence fees” that can range from 1-3%. In this case, sales commissions of 8% were paid on the investment, according to the Form D.
The problem with private placement investments such as MabVax Therapeutics is that they typically involve a high degree of risk. They are also often sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.
Investigating Potential Claims
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk private placements, like MabVax Therapeutics to 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 you have concerns regarding your investment in MabVax Therapeutics and would like to speak with a securities attorney about your options, please call The White Law Group 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, visithttps://whitesecuritieslaw.com.
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