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Articles Posted in Misrepresentation and Omission of Material Facts

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Investors in YayYo (YAYO), a ride-hailing vehicle supply company, were disappointed to find out that their shares, which originally sold for $4.00 per share, are now worth pennies. A lawsuit filed in the Southern District of New York, FirstFire Global Opportunities Fund, LLC v. Aegis Capital Corp., et al., alleges that this decimation of stock value was the result of fraud. Specifically, the suit accuses the IPO underwriters, including Aegis Capital Corp., of concealing that its founder/CEO/director, Ramy El-Batrawi, controlled the company despite El-Batrawi’s “checkered past with allegations of securities violations by the federal securities authorities,” according to the Complaint.Investors in YayYo (YAYO), a ride-hailing vehicle supply company, were disappointed to find out that their shares, which originally sold for $4.00 per share, are now worth pennies. A lawsuit filed in the Southern District of New York, FirstFire Global Opportunities Fund, LLC v. Aegis Capital Corp., et al., alleges that this decimation of stock value was the result of fraud. Specifically, the suit accuses the IPO underwriters, including Aegis Capital Corp., of concealing that its founder/CEO/director, Ramy El-Batrawi, controlled the company despite El-Batrawi’s “checkered past with allegations of securities violations by the federal securities authorities,” according to the Complaint. Continue reading

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Silver Law Group, a nationally-recognized class action law firm, is investigating Aytu BioSciences (AYTU) on behalf of shareholders in the company. The investigation regards whether Aytu and its officers and directors have violated the federal securities laws. Aytu BioSciences (AYTU) Announces License Agreement For COVID-19 Test On March 10, 2020, Aytu BioSciences, a Colorado-based publicly-traded specialty pharmaceutical company, announced that it had reached a license agreement for the exclusive distribution of a Chinese-made test for COVID-19 antibodies in the U.S. The license agreement was for three years, with automatic renewals after that, according to Aytu.Silver Law Group, a nationally-recognized class action law firm, is investigating Aytu BioSciences (AYTU) on behalf of shareholders in the company.

The investigation regards whether Aytu and its officers and directors have violated the federal securities laws.

Aytu BioSciences (AYTU) Announces License Agreement For COVID-19 Test Continue reading

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In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc.In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc. Continue reading

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Silver Law Group, a nationally-recognized class action law firm representing investors, is investigating Lipocine (LPCN), a publicly-traded specialty pharmaceutical company, on behalf of shareholders of the company’s stock.  The investigation concerns whether Lipocine gave misleading information to the public and violated federal securities laws.Silver Law Group, a nationally-recognized class action law firm representing investors, is investigating Lipocine (LPCN), a publicly-traded specialty pharmaceutical company, on behalf of shareholders of the company’s stock.

The investigation concerns whether Lipocine gave misleading information to the public and violated federal securities laws. Continue reading

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Silver Law Group is investigating Zynerba Pharmaceuticals (ZYNE), a publicly-traded company that is developing cannabinoid therapies for neuropsychiatric disorders, on behalf of investors in the company’s stock. The investigation regards possible violations of federal securities laws by Zynerba officers and directors.Silver Law Group is investigating Zynerba Pharmaceuticals (ZYNE), a publicly-traded company that is developing cannabinoid therapies for neuropsychiatric disorders, on behalf of investors in the company’s stock.

The investigation regards possible violations of federal securities laws by Zynerba officers and directors. Continue reading

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Owners of Conagra Brands stock (CAG) are suing the packaged foods giant, alleging they were tricked into approving their nearly $11 billion acquisition of Pinnacle Foods. Conagra, which is a component of the S&P 500, announced that it would acquire Pinnacle Foods in June, 2018. CEO Sean Connolly publicly assured investors that Conagra had done its due diligence into Pinnacle, which owns brands such as Birds Eye and Duncan Hines, and said that the two companies were a natural fit for each other.Owners of Conagra Brands stock (CAG) are suing the packaged foods giant, alleging they were tricked into approving their nearly $11 billion acquisition of Pinnacle Foods.

Conagra Justifies Acquisition Of Pinnacle Foods

Conagra, which is a component of the S&P 500, announced that it would acquire Pinnacle Foods in June, 2018. CEO Sean Connolly publicly assured investors that Conagra had done its due diligence into Pinnacle, which owns brands such as Birds Eye and Duncan Hines, and said that the two companies were a natural fit for each other. Continue reading

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Silver Law Group, a securities and investment fraud law firm, is letting investors know that a class action lawsuit has been filed against Amarin Corporation on behalf of investors who purchased shares between September 24, 2018 and November 8, 2018. The complaint alleges that Amarin made materially false and/or misleading statements and/or failed to disclose important information regarding its “REDUCE-IT” trial for their drug Vascepa, which treats heart disease. The purpose of the class action lawsuit is to recover monetary damages for alleged violations of federal securities laws.

Silver Law Group, a securities and investment fraud law firm, is letting investors know that a class action lawsuit has been filed against Amarin Corporation on behalf of investors who purchased shares between September 24, 2018 and November 8, 2018. The complaint alleges that Amarin made materially false and/or misleading statements and/or failed to disclose important information regarding its “REDUCE-IT” trial for their drug Vascepa, which treats heart disease.

The purpose of the class action lawsuit is to recover monetary damages for alleged violations of federal securities laws. Continue reading

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American Realty Capital New York City REIT has changed its name, and is now known as New York City REIT (NYCR). The trust recently updated its charter to reflect the new name.Shares of NYCR were initially sold for $25 each. The company’s board recently approved net asset value of $20.26 per share as of June 30, 2018 (published on October 25, 2018.)American Realty Capital New York City REIT has changed its name, and is now known as New York City REIT (NYCR). The trust recently updated its charter to reflect the new name.

Shares of NYCR were initially sold for $25 each. The company’s board recently approved net asset value of $20.26 per share as of June 30, 2018 (published on October 25, 2018.) Continue reading

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Richard Wesselt (CRD#: 2195569) is a currently registered broker with Fortune Financial Services (CRD#: 42150) of Collegeville, PA, employed since 2017. His previous employers include The O.N. Equity Sales Company (CRD#:2936), also of Collegeville, Sterne Agee Financial Services, Inc. (CRD#:18456) of Jeffersonville, PA, and American Investment Services, Inc. (CRD#:21111, expelled by FINRA on 2/13/2003) of Oklahoma City, OK.Wesselt has a total of fifteen disclosures on his FINRA record dating back to 1997, and all but the first are customer disputes.Richard Wesselt (CRD#: 2195569) is a currently registered broker with Fortune Financial Services (CRD#: 42150) of Collegeville, PA, employed since 2017. His previous employers include The O.N. Equity Sales Company (CRD#:2936), also of Collegeville, Sterne Agee Financial Services, Inc. (CRD#:18456) of Jeffersonville, PA, and American Investment Services, Inc. (CRD#:21111, expelled by FINRA on 2/13/2003) of Oklahoma City, OK. Continue reading

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Scott Vincent Kaup (CRD #1002907) is a registered broker and investment advisor currently employed with Summit Brokerage Services, Inc. (CRD #34643) of Stuart, NE. His previous employers include VSR Financial Services, Inc. (CRD #14503), also of Stuart, NE and American General Securities Incorporated (CRD #13626) of Phoenix, AZ. He has been in the business since 1981.

Lawrence-LaBine-Under-Fire-for-Alleged-Unsuitable-Recommendations-and-More-300x200Kaup has two disclosures on his record. The first one, filed on 7/13/2018, alleges “unsuitable investment recommendations, material misrepresentations and omissions, and supervisory due diligence failures.”  The client is requesting damages of $2,600,000.00. No additional information is available.

The second dispute was filed on 4/25/2016. This claim alleges that Kaup, from 3/30/2001 to 6/14/2010, breached his fiduciary duty, violated common law fraud regulations, made unsuitable recommendations for investments and committed negligence. The claim was settled for $173,000. Kaup denied all claims.

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