Stoltmann Law Offices is interested in hearing from those individuals who may have been recommended or sold Asterias Biotherapeutics, Inc. (AST) securities by their Laidlaw and Company broker. Many of these investors have experienced significant losses in the company, as Laidlaw served as the underwriter for the offering. Newly issued securities tend to be more volatile than older, more established companies, and your broker must disclose the risk to you on every investment he recommends or sells. Many investors do not wish to have their money placed into high-risk, speculative stocks such as AST. These tend to be illiquid in nature, as well. According to Yahoo Finance, AST, founded in 2012 in Fremont, California, is a clinical-stage biotechnology company, which focuses on developing cell-based therapeutics to treat neurological conditions associated with demyelination, and cellular immunotherapies to treat cancer. The company was formerly know as BioTime Acquisition Corporation and changed its name in March 2013.
Laidlaw and Company has a duty to reasonably supervise its brokers in order to ensure that they do not violate securities laws or internal firm rules. If Laidlaw does not, it may be liable for investment losses on a contingency fee basis. We are securities attorneys who sue brokerage firms like Laidlaw and Company. Brokers at Laidlaw and Company must take into account certain factors such as a customer’s age, net worth, investment objectives and portfolio risk tolerance, among other things before recommending investments such as AST. The investment may not be suitable for all investors because of these factors.
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