Soreide Law Group has been receiving calls from our clients who purchased MabVax Therapeutics Holdings, Inc. (MBVX) and experienced significant stock losses. Not only were the brokers from Laidlaw and Company offering this stock, but Laidlaw also served as the “Sole Placement Agent” for the offering. Securities that are newly issued are typically more volatile than the older more established companies, and if the investor was not looking to speculate, this could have been an unsuitable recommendation given to you by your broker from Laidlaw and Company.
According to Yahoo Finance, MabVax Therapeutics Holdings, Inc. (MBVX), is a clinical stage biopharmaceutical company, discovers, develops, and commercializes proprietary human monoclonal antibody products and vaccines for the treatment of various cancers. The company has a pipeline of human monoclonal antibody products based on the protective immune responses generated by patients who have been immunized against targeted cancers. The company has various research agreements and collaborations with Memorial Sloan Kettering Cancer Center; a licensing agreement with Life Technologies Corporation; a research collaboration agreement with Rockefeller University's Laboratory of Molecular Genetics and Immunology; and a development and manufacturing services agreement with Patheon. MabVax Therapeutics Holdings, Inc. was founded in 2006 and is based in San Diego, California.
In June of 2013, MabVax Therapeutics Holdings, Inc. (MBVX) was trading around 261.33, and today it is trading at approximately 1.76. The 52-week change is -67.25%.
On Laidlaw and Company’s website, the following information on their company is given: ”Our team of bankers’ focus on the healthcare industry and the depth of their experience allows them to provide comprehensive knowledge of both the industry and the markets.”
If you’ve experienced significant investment losses in MabVax Therapeutics Holdings, Inc. (MBVX)due to the recommendations of a Laidlaw and Company securities broker, call Soreide Law Group for a no cost consultation with an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA. We operate on a contingency fee basis, no fee if no recovery.
A customer arbitration over investments bought in 2014 appears on Randall Mason's BrokerCheck report, and it ended in an award. Mason (CRD 1758777) denied the customer's unsuitability allegations in a statement on BrokerCheck. A second customer raised similar allegations in an earlier claim, which settled. Both disputes name Parkland Securities as the firm.
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