Accoona Corp. Investors Could Recover Losses

by InvestorLawyers on July 27, 2012

in Arbitration,FINRA,Private Placements,SEC,Securities Fraud,Suitability

Securities fraud attorneys are currently investigating claims on behalf of investors who suffered losses as a result of their investment in Accoona Corp. Inc. Accoona serves as an online multi-lingual business portal and search engine through its operation as a website, according to its Securities and Exchange Commission Form D filing. It is primarily designed to help chambers of commerce, small- and medium-sized businesses and governments publicize information to other businesses. In order to raise capital, Accoona offered a Regulation D private placement. Reportedly, this private placement was offered and sold by certain broker-dealers that were registered with FINRA.

Accoona Corp. Investors Could Recover Losses

According to securities arbitration lawyers, private placements allow smaller companies to use the sale of debt securities or equities to raise capital without it becoming necessary for them to register these securities with the Securities and Exchange Commission. Because these investments are typically more complicated and carry more risk than other traditional investments, they are usually only suitable for sophisticated, high-net-worth investors.

Securities fraud attorneys say that because the creation and sale of private placements often carry high commissions, these investments continue to be pushed by brokerage firms despite the fact that they may be unsuitable for investors. Financial Industry Regulatory Authority rules have established that brokers and firms have an obligation to fully disclose all the risks of a given investment when making recommendations, and those recommendations must be suitable for the individual investor receiving the recommendation given their age, investment objectives and risk tolerance.

Current investigations regarding this investment are related to whether FINRA-registered brokerage firms can be held liable for improperly selling the Accoona Corp. Regulation D private placement and other high-risk private placements to their clients. Any investors who were recommended and sold the Accoona Corp. private placement that could not be considered sophisticated, high-net-worth investors could recover losses through FINRA arbitration.

If you suffered significant losses as a result of your investment with Accoona Corp., or another private placement, you may have a valid securities arbitration claim. To find out more about your legal rights and options, contact a securities arbitration lawyer at The Law Office of Christopher J. Gray at (866) 966-9598 for a no-cost, confidential consultation.

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