The makers of solar inverters, Satcon Technology Corporation, filed for bankruptcy protection in October of 2012. The shares of the company had a market value as high as $6.32 before its precipitous drop. The Boston, Massachusetts Company has reported a loss for 22 consecutive quarters.
Satcon makes power conversion equipment utilities which are used with renewable energy sources. The bankruptcy filing followed the company's report to the SEC that it had defaulted on over $16 million in debt.
When a company files for bankruptcy, investors are often at the end of a long line of creditors. The Soreide Law Group is investigating the potential liability that FINRA broker-dealers may have for selling securities in Satcon Technology Corp to retail investors.
If a stock broker or brokerage firm recommended the purchase of Satcon for your stock portfolio, you may be able to recover money by pursuing a FINRA arbitration against the broker or brokerage firm. Brokers have a duty to only recommend suitable investments after performing adequate due diligence.
If your broker purchased Satcon Technology Corp. in your stock account, call (888) 760-6552 for a free consultation. Soreide Law Group represents investors nationwide before FINRA. No fee unless there is a successful recovery.
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