Summit Semiconductor, LLC (WISA)  Investment Losses

Concerned about your investment in Summit Semiconductor LLC (now known as Summit Wireless Technologies)? 

Are you concerned about your investment losses in Summit Semiconductor, LLC ? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.

Summit Wireless Technologies, Inc. engages in the manufacture of modules which wirelessly transmit and receive audio directly to speakers, according to its website.

The company filed a form D to raise capital from investors in 2017 for the offering Summit Semiconductor, LLC, according to filings with the SEC. The total offering amount sold was purportedly $1,680,000.

Summit Semiconductor, began trading its share on the Nasdaq stock market under the symbol “WISA” on July 27, 2018, according to a press release.  The company priced its initial public offering of 2,400,000 shares of its common stock at $5.00 per share, for total gross proceeds of $12.0 million before deducting underwriting discounts and commissions and other offering expenses.  

 Unfortunately for investors, according to MarketShare, as of August 31, the share price of WISA is down more than 83% YTD.

Filing a Complaint against your Brokerage Firm

The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk investments to investors.

The problem with tech investments such as Summit Semiconductor LLC is that they typically involve a high degree of risk. Without a strong understanding of the company and its basic operations, investors may be looking at serious losses.

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 investment losses in Summit Semiconductor, LLC (WISA) please call the securities attorneys at The White Law Group for a free consultation 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, visit http://whitesecuritieslaw.com.