A National Securities Arbitration & Investment Fraud Law Firm
Our attorneys are investigating customer losses in Box Ships Inc., an investment offered and sold by National Securities Corporation Inc. (NSC) to its retail clients.
If you have suffered losses in Box Ships Inc., please contact our lawyers for a free and confidential consultation concerning your legal rights and the possibility of recovery.
At Silver Law Group, we know from experience that not every investment recommended and solicited by a stockbroker is suitable and appropriate for the customer. We have seen, particularly in the initial public offering (IPO) space, that investors are often falsely promised high returns and low risk, when in truth the investment is speculative and subject to the loss of principal. Your financial advisor and the securities firm who sells the investment have a legal duty to fully explain the nature of the investment, its inherent risks and the possibility of loss.
Brokers and financial advisors may push risky initial public offerings on unsuspecting investors based upon strong financial incentives, including large commission payouts. Investors in such offerings must realize that these investments are inherently risky and should be considered very carefully before making a decision to invest. Representations made by stockbrokers that such investments are “safe” and “guaranteed” are typically false and are a red flag of possible fraud.
National Securities Corporation Inc. Role in the Investment:In 2013, National Securities Corporation underwrote Box Ship Inc.’s preferred stock offering. At the close of the offering, National Securities Corporation raised over 8 million ($8,160,000.00). Box Ships Inc. was listed on the NYSE under the stock symbol “TEU”. In 2015, the company was delisted from the NYSE, and was then listed on the QTCQX Inter. As of October 17, 2017, Box Ships Inc stock is worth $0.08 per share.
Box Ships Inc. Company Profile:Box Ships Inc. is an international shipping company specializing in the transportation of containers and the provision of commercial management services to shipping companies. According to its website, Box Ships is a Marshall Islands-registered company formed in May 2010. It operates container vessels and employs them in “period time charter” contracts. Mr. Michael Bodouroglou, the Chairman and Chief Executive Officer of Box Ships, has been active in the shipping industry since 1976 per the company’s website. He is also the CEO of Paragon Shipping Inc., another company underwritten by National Securities Corporation Inc.
Silver Law Group represents investment fraud victims in cases to recover their investment losses. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll-free at (800) 975-4345.