National investment loss lawyers KlaymanToskes is investigating Aegis Capital for their unsuitable sale and recommendation of investments in Acer Therapeutics Inc (formerly, Opexa Therapeutics, Inc.) under the symbol ACER (OPXA) to their customers. The law firm urges all current and former customers of Aegis Capital who suffered investment losses in excess of $100,000 to contact the firm immediately at 888-997-9956.
KlaymanToskes is investigating Aegis Capital and other brokerage/investment advisory firms who unsuitably recommended Acer Therapeutics Inc (Opexa Therapeutics, Inc.) and other Aegis Capital-underwritten investment offerings to their customers. Aegis Capital underwrote a $18,000,000 offering of Acer Therapeutics Inc (Opexa Therapeutics, Inc.) on August 7, 2013, which has had a post-offering return of -99.4% as of February 28, 2024. Subsequently, a $7,004,000 Aegis Capital-underwritten offering of Acer Therapeutics Inc (Opexa Therapeutics, Inc.) on December 17, 2013 has had a post-offering return of -99.5% as of February 28, 2024. From 2011 to February 28, 2024, Aegis Capital has solely underwritten two offerings of Acer Therapeutics Inc (Opexa Therapeutics, Inc.) with a total issue size of $25,004,000.
A recent analysis by financial economics consulting firm SLCG determined that a multitude of offerings underwritten by Aegis Capital were issued by nano stock companies constantly on the verge of delisting and bankruptcy, and over 95% of Aegis Capital’s underwritings underperformed the average microcap stock.
As the sole manager for 186 investment offerings totaling $1.9 billion, Aegis Capital is responsible for conducting proper, complete and accurate due diligence, and has a heightened duty to disclose any potential risks to its customers. As a registered FINRA broker-dealer, Aegis Capital has a responsibility to provide its customers with suitable investment advice, and to avoid conflicts of interest.
Investment firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector, as well as failure to conduct adequate due diligence on investment offerings underwritten by the firm.
FINRA (the Financial Industry Regulatory Authority) is a self-regulatory organization that oversees brokers and brokerage firms. In the event of a dispute between an investor and their financial advisor, investors can choose to file a FINRA arbitration claim. FINRA is overseen by the Securities and Exchange Commission (“SEC”).
The arbitration process is designed to be much faster than the court system and allows both parties to present their case before a panel of arbitrators. The arbitrators will then decide how to resolve the dispute, including ordering the advisor to pay damages for any losses suffered by the investor.
KlaymanToskes helps investors to determine if their investment loss is due to fraud, financial advisor misconduct, or unsuitable investment advice. Depending on the circumstances, investors may be entitled to recover their losses through FINRA arbitration.
If you suffered losses in excess of $100,000 due to unsuitable recommendations to invest in Acer Therapeutics Inc (Opexa Therapeutics, Inc.) and/or any other investments underwritten by Aegis Capital, contact KlaymanToskes immediately at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss our investigation and legal options.