Class Action

SHAREHOLDER ALERT: Silver Law Group Notifies Investors of Class Action Lawsuit Against Akers Biosciences, Inc. (Nasdaq: AKER)

July 23, 2018 | Silver Law Group

Silver Law Group, a securities and investment fraud law firm announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Akers Biosciences, Inc. (Nasdaq: AKER) (“Akers” or the “Company”) securities during the period between May 15, 2017 and June 5, 2018, inclusive (the “Class Period”). Investors who wish to serve as a lead plaintiff in the litigation have until August 13, 2018 to seek appointment as lead plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Akers was improperly recognizing revenue for the fiscal year ended December 31, 2017, and it downplayed weaknesses in its internal controls over financial reporting.

According to the complaint, following a May 21, 2018 filing disclosing the Company’s continuing review of certain revenue recognition items, a May 29, 2018 press release announcing that a director had resigned, and a June 5, 2018 filing stating the previously filed Form 8-K made false statements regarding the director, the value of Akers shares declined significantly.

Did National Securities Recommend Restoration Robotics?

June 29, 2018 | Silver Law Group

Silver Law Group is investigating claims involving National Securities’ sale of Restoration Robotics to investors through its IPO and in Reg D or private placement offerings.

If you invested in Restoration Robotics common stock or in a private placement and would like to discuss your legal rights, please contact our firm. There is no cost or obligation to you. You can also contact us by calling Scott L. Silver toll free at (800) 975-4345 or by sending an e-mail to ssilver@silverlaw.com.

A lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Restoration common stock pursuant or traceable to the Company’s Initial Public Offering (the “IPO” or “Offering”) that commenced on October 12, 2017 and closed on October 16, 2017. The case, Guerrini v. Restoration Robotics, Inc. et al., No. 18-cv-03712 was filed on June 21, 2018, and has been assigned to Judge Edward John Davila.

National Securities Corporation and Restoration Robotics, Inc. Subject of Class Action

June 28, 2018 | Silver Law Group

A class action has been filed against Restoration Robotics, Inc. (“HAIR”), National Securities Corporation (“National Securities”) and others. The complaint alleges that Restoration Robotics negligently issued untrue statements of material facts in, and omitted to state material facts required to be started from, the prospectus issued in connection with the Initial Public Offering (“IPO”). At the time of the IPO, Restoration Robotics sold approximately 4 million shares at a price of $7.00 per share. Restoration Robotics stock has dropped dramatically trading under $3.00 a share on June 22, 2018.

National Securities served as an underwriter for the Company’s IPO agreeing to purchase 2,145,000 shares of the Company common stock, exclusive any over-allotment option. National Securities previously served as Restoration Robotics investment banker raising several million dollars in a Reg D offering in 2016. According to the complaint, National Securities collected fees from commissions and discounts in excess of $1,100,000 in the IPO.

According to the class action complaint, Restoration Robotics was incorporated in 2002 under the laws of the State of Delaware. At the time of the IPO, the Company also had three wholly-owned subsidiaries: (i) Restoration Robotics, Inc. Limited, (ii) Restoration Robotics Europe Limited, Incorporated, and (iii) Restoration Robotics Korea Yuhan Hoesa, Incorporated.

Silver Law Group Reminds Shareholders with Investments Losses in Cancer Genetics, Inc. of Class Action Lawsuit and Upcoming Deadline – CGIX

June 4, 2018 | Silver Law Group

Silver Law Group announces that a class action lawsuit has been filed against Cancer Genetics, Inc. (“Cancer Genetics” or the “Company”) (CGIX) and certain of its officers. The class action, filed in United States District Court, District of New Jersey, and docketed under 18-cv-06353, is on behalf of a class consisting of investors who purchased or otherwise acquired Cancer Genetics securities between March 23, 2017 through April 2, 2018, both dates inclusive (the “Class Period”), seeking to recover damages caused by defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchased Cancer Genetics securities between March 23, 2017, and April 2, 2018, both dates inclusive, you have until June 4, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. To discuss this action, contact Scott L. Silver at ssilver@silverlaw.com or (800) 975-4345 toll-free. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

Cancer Genetics is a diagnostics company focused on the development and commercialization of proprietary genomic tests and services to improve the diagnosis, prognosis, and response to treatment (theranosis) of cancer. Cancer Genetics went public in 2013 raising approximately $6,000,000. The lead underwriters were Aegis Capital Group and Feltl & Company, Inc.

Scott Silver Participates in the University of Miami School of Law Class Action Forum

February 13, 2018 | Silver Law Group

On December 8, 2017, the University of Miami School of Law held its annual class action forum. Of particular interest was hot topics in class action and mass torts plus a keynote speech from the attorney representing many NFL players in litigation relating to concussions.

Scott Silver is a 1996 graduate of Miami Law School and an active member of the Law School alumni program. In 2016, Silver Law Group was instrumental in helping the University of Miami Investor Rights Clinic receive a $107,000 Cy Pres Award from one of our class actions relating to the U.S. Pension Trust Corp. fraud which resulted in a substantial recovery for our clients.

The Investor Rights Clinic is an important program which teaches students about securities arbitration while helping investors, who may not be able to find counsel, pursue FINRA arbitration claims for securities and investment fraud. Scott Silver is a frequent lecturer at investor rights clinics around the country including University of Miami and Albany Law School in New York.

Plot Thickens in Aequitas Saga; Investors File Suit Against Tonkon Torp, Deloitte

April 9, 2016 | Silver Law Group

Aequitas Capital Management investors filed a class action lawsuit on April 4, 2016 against Portland law firms Tonkon Torp and Sidley Austin and the accounting firms Deloitte & Touche and EisnerAmper, claiming the firms enabled the massive Ponzi scheme.

The April complaint (the “Complaint”) has been brought on the heels of a complaint the Securities and Exchange Commission (“SEC”) filed against Oregon-based Aequitas and its principals in March. Silver Law Group is currently investigating claims against Aequitas and Registered Investment Advisor (“RIAs”) firms with respect to possible violations of federal securities.

The Complaint alleges that the aforementioned firms are responsible to pay for the investors losses because they aided in the unlawful sales of Aequitas securities after Aequitas made numerous “extensive and pervasive” misrepresentations.

Paul A. Posillico Permanently Barred from Securities Industry

December 10, 2015 | Silver Law Group

Paul A. Posillico Permanently Barred from Securities Industry on silverlaw.com

Numerous allegations and failure to respond to FINRA requests drive decision

After 10 years in the securities industry, Paul Posillico has been permanently barred from practicing as a financial broker or investment advisor. During his ten years of buying and selling securities on behalf of customers and providing advice about securities to clients, Posillico had more than 9 allegations of broker misconduct made against him.

According to FINRA’s BrokerCheck report on Posillico, the broker was barred from the securities industry for “failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.”

FINRA Bars Broker Michael Talin From Securities Industry

December 7, 2015 | Silver Law Group

FINRA Bars Broker Michael Talin From Securities Industry on silverlaw.com

Allegations include elder financial fraud, misappropriation of funds and unsuitable recommendations

Michael Talin, a former broker associated with Woodbury Financial Services, has been barred from the securities industry by FINRA after failing to cooperate with agency investigators. An investigation was launched after customers alleged that he misappropriated and converted more than $300,000 in customer funds.

According to the BrokerCheck report, Woodbury Financial discharged Talin after he failed to disclose three tax liens and civil complaints against him to the firm. He had previously been registered with Woodbury’s Seal Beach branch in California since 1998 and had worked in the Los Alamitos location since the year 2000.

FINRA Takes Action Against Cantone Research

November 24, 2015 | Silver Law Group

FINRA Takes Action Against Cantone Research on silverlaw.com

Allegations include misrepresentation in sales of $8 million of promissory notes

On Friday, November 20, 2015, FINRA filed a complaint against Cantone Research and its president Anthony J. Cantone. The action against Cantone is for fraud in relation to the execution of promissory notes on behalf of Christopher Brogdon, who is currently being charged by the SEC for fraud, multiple SEC violations, commingling and misappropriation of funds.

According to FINRA, Cantone sold more than $8 million of COP in five promissory notes and all but one of the notes have already defaulted with losses estimated at $6 million—while Cantone and his firm, Cantone Research, collected more than $1 million in payments for fees and commissions.

FINRA Files Complaint Against Advisor Valentino Infante

November 23, 2015 | Silver Law Group

FINRA Files Complaint Against Advisor Valentino Infante on silverlaw.com

Broker failed to disclose outside business practices and refused to provide testimony after a FINRA request

In July of 2015, FINRA’s Department of Enforcement filed a complaint against Florida-based financial advisor Valentino Infante and barred him from associating with any FINRA member firm. According to the allegations, they found that the broker refused to cooperate with request for testimony in connection with this investigation, and that he provided misleading and false information to a FINRA member firm such as failing to disclose his outside business practices to his employer, Wells Fargo, as well as engaging in selling away in violation of firm policies. Brokers have a responsibility to disclose certain information about their activities to a licensed firm they work with and to cooperate with any FINRA investigations, if necessary.

According to the complaint, Infante solicited one client to provide funding for a limited liability company known as IMonsters Machinery. The purpose of this company was to buy and resell tractors. Infante was the sole proprietor of this business, but he did not make this clear to the investor and he did not share this with his employing firm, Wells Fargo.