My Size Inc.: Recovery of Investment Losses
Have you suffered losses investing in My Size Inc. at the recommendation of your financial advisor? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA lawsuit against your brokerage firm.
What is My Size Inc.?
My Size, Inc. (NASDAQ: MYSZ), an omni-channel e-commerce platform, provides AI-driven software as a service measurement solutions for fashion e-commerce companies in Israel, Spain, and internationally.
The company was formerly known as Knowledgetree Ventures, Inc. and changed its name to My Size, Inc. in January 2014. My Size, Inc. was incorporated in 1999 and is headquartered in Airport City, Israel.
In March 2021, My Size Inc. offered shares of its common stock for sale to investors. The offering was reportedly underwritten by Aegis Capital Corp. As of February 28, 2024, the average post offering return was –98.7%. The company’s common stock was traded on the NASDAQ, under the symbol “MYSZ.”
My Size Inc. (MYSZ) Stock Split
As of April 15, 2024, according to a PR Newswire article:
MySize, Inc. announced that its Board of Directors has approved a one-for-eight reverse stock split of its common stock that is scheduled to become effective after trading closes on April 19, 2024.
As previously disclosed by the company, at the My Size Special Meeting of Stockholders held on April 15, 2024, the Company’s stockholders approved a proposal authorizing the Company’s Board of Directors, among other things, to effect a reverse stock split at a ratio in the range of 1-for-2 and 1-for-15 in order to increase the per share price and bid price of the Company’s common stock to regain compliance with the continued listing requirements of Nasdaq and make the common stock more attractive to certain institutional investors, which would provide for a stronger investor base.
As of September 1, 2024, according to Market Watch shares of My Size, Inc. are down -82.48% over the last 12 months.
Risks Associated with Small Stock Offerings
There are numerous risks involved in investing in small stock offerings. These stocks may have low trading volumes, making it difficult to buy or sell shares at desired prices and many small companies may not provide comprehensive financial disclosures or have limited operating histories.
Small stocks can also be more volatile than larger, established companies, leading to significant price fluctuations.
Broker Due Diligence
Broker due diligence is a process undertaken by brokerage firms to ensure they are recommending and selling investment products appropriate for their clients. This process protects the interests of the brokerage firm and its clients by ensuring that the investments offered are suitable for the client’s investment objectives, risk tolerance, and financial situation.
If a broker or brokerage firm makes an unsuitable investment recommendation or fails to disclose the associated risks adequately, 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.
Class Action vs. Individual FINRA Arbitration Lawsuit
You may wonder whether a large class action lawsuit is a better litigation option than an individual FINRA arbitration case. The answer depends on many factors, but typically if the loss sustained is large (say larger than $100,000), an individual arbitration claim is likely a better option. Class actions as a recovery option are more appropriate for grouping large numbers of individuals who have small claims – too small to generally pursue individually.
Free Consultation
If you have suffered investment losses in My Size Inc., you may have recovery options. Please call the securities attorneys at The White Law Group for a free consultation at 1-888-637-5510.
About The White Law Group
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. The firm represents investors across the country in claims against their brokerage firms.
Last modified: September 20, 2024
