Recently, investors have contacted Soreide Law Group regarding possible claims to recover losses from concentrated recommendations in illiquid and speculative investments such as HealthWarehouse.com, and Live Microsystems, Inc., allegedly recommended by UBS and its former registered representative, RALPH B. MARRA (CRD# 2128560).
According to company information from Bloomberg, Live Microsystems, Inc. (LMSC) does not have significant operations. Previously, it operated as a mobile Internet provider of digital entertainment solutions for network operators, consumer device manufacturers, and brands and media companies in the mobile market. The company was formerly known as Livewire Mobile, Inc. and changed its name to Live Microsystems, Inc. in August 2013. Live Microsystems, Inc. was founded in 1983 and is based in Radnor, Pennsylvania.
HealthWarehouse.com, Inc. (HEWA) is an online pharmacy based in Florence, Kentucky. It is a penny stock down which is 50% off its high. These investments may not be suitable for conservative investors.
Allegedly, RALPH B. MARRA represented to investors that these stocks were a sure thing, which he owned personally, and would provide investors with tremendous returns with a limited downside risk.
Unfortunately, RALPH B. MARRA failed to advise these investors that this strategy had substantial risk for principal losses. Marra also discouraged investors whenever they tried to sell the stocks. As a result of Marra’s alleged misconduct, the investors have lost the majority their investments while the markets have had high returns.
RALPH B. MARRA has been in the securities industry for 25 years and is currently registered with the following firm since 05/2015:
NATIONAL SECURITIES CORPORATION
514 ROUTE 35 SOUTH
RED BANK, NJ 07701
Some of the previous firms RALPH B. MARRA was registered with are:
01/2013 - 05/2015 MORGAN STANLEY - SHREWSBURY, NJ
05/2008 - 01/2013 UBS FINANCIAL SERVICES INC. - RED BANK, NJ
07/2000 - 05/2008 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED - RED BANK, NJ
06/1999 - 07/2000 DEAN WITTER REYNOLDS INC. - PURCHASE, NY
If you were a client of RALPH B. MARRA, or any other broker who encouraged you to invest in highly speculative and illiquid investments such as HEWA or LMSC, contact the Soreide Law Group for a no-cost consultation with a lawyer on the possible recovery of your investment losses at: 888-760-6552.
Soreide Law Group represents clients nationwide and we operate on a contingency fee.
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