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Kiromic BioPharma, Inc. (KRBP) is being investigated by Silver Law Group regarding possible violations of the federal securities laws. If you purchased shares of Kiromic BioPharma, Inc. (KRBP), contact Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. Kiromic BioPharma is a “target discovery and gene-editing company” working on the development of immuno cancer therapeutics to treat blood cancers and tumors. Initial Public Offering (IPO) Kiromic BioPharma held its IPO in October, 2020 with the offering of 1.25 million shares of stock for $12 per share. ThinkEquity, which is a division of Fordham Financial Management, was the sole book-running manager for the offering with Paulson Investment Company acting as co-manager.Kiromic BioPharma, Inc. (KRBP) is being investigated by Silver Law Group regarding possible violations of the federal securities laws.

If you purchased shares of Kiromic BioPharma, Inc. (KRBP), contact Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

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Johan Pereira (Johan Manuel Pereira CRD#: 6252881) is a former registered broker and investment advisor whose last known employment was with Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly, MA. His previous employers are Santander Securities LLC (CRD#:41791) of North Andover, MA, Citizens Securities, Inc. (CRD#:39550) of Wilmington, MA, and Pruco Securities, LLC. (CRD#:5685) of Wakefield, MA. He has been in the industry since 2013. Pereira became involved with an outside business activity (OBA) which included compensation. As required, he sought approval from Wells Fargo and was granted permission. In his request, Pereira stated that he would not offer advice on securities, financial planning, or financing through this OBA. Later, Pereira did become involved in activity that was outside of the description he gave to Wells Fargo. He was approached to assist one of the OBA customers in purchasing Bitcoin, buying it for the customer personally. By doing so, Pereira went outside of the description he gave to Wells Fargo regarding his involvement. He did not disclose this activity to Wells Fargo as required.Johan Pereira (Johan Manuel Pereira CRD#: 6252881) is a former registered broker and investment advisor whose last known employment was with Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly, MA. His previous employers are Santander Securities LLC (CRD#:41791) of North Andover, MA, Citizens Securities, Inc. (CRD#:39550) of Wilmington, MA, and Pruco Securities, LLC. (CRD#:5685) of Wakefield, MA. He has been in the industry since 2013. Continue reading ›

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Jeremy Fortner (Jeremy W. Fortner CRD# 4811478) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly Hills, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) of Sherman Oaks, CA, Chase Investment Services Corp. (CRD#:25574) of both Encino and Los Angeles, CA, and J.P. Morgan Institutional Investments Inc. (CRD#:102920) of Kansas City, MO. He has been in the industry since 2004. On 8/1/2021, Wells Fargo Clearing Services discharged Fortner for “borrowing money from multiple firm clients.” There are seven customer disputes with settlements totaling $435,488.55 with similar allegations of: Borrowed funds not repaid, including two secured with promissory notes Involvement in Fortner’s outside business activities and outside private placements Recommendation of a real estate investment The purchase of a security in one client’s account without authorization These disputes are dated from 6/23/2021 from 10/04/2021. FINRA contacted Fortner for information related to its investigation, but he failed to respond with information. This led to a permanent and indefinite bar in all capacities against Fortner, beginning on 3/3/2022. FINRA imposed no fines.

Jeremy Fortner (CRD# 4811478) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly Hills, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) of Sherman Oaks, CA, Chase Investment Services Corp. (CRD#:25574) of both Encino and Los Angeles, CA, and J.P. Morgan Institutional Investments Inc. (CRD#:102920) of Kansas City, MO. He has been in the industry since 2004. Continue reading ›

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Robert Foley (Robert Patrick Foley CRD# 6060234) is a broker and investment advisor whose last known employer was Wynston Hill Capital, LLC (CRD#:103811) of Red Bank, NJ. Previous employers include Maxim Group LLC (CRD#:120708) of New York, NY, Pruco Securities, LLC. (CRD#:5685) of Paramus, NJ, and Metlife Securities Inc. (CRD#:14251) of Elmsford, NY. He has been in the industry since 2012. Foley has two disclosures in his CRD, the first of which involves failing to supervise two representatives at Wynston Hill who were involved in “churn and burn,” or excessively trading in customers accounts, and a third firm representative who falsified the firm’s records. This activity occurred during Foley’s tenure, from January through June of 2019. Foley was a designated principal responsible for supervising the registered representatives assigned to Wynston Hill’s New York City branch office. His job included the review of orders to look for frequent or excessive trading, margin trades, unsuitable recommendations, higher-than-normal commissions and other “red flags.” Foley discussed these issues with the firm’s chief compliance officer but took no other action. Customers of two of the representatives would need growth in excess of 100% per year in their accounts to cover the commissions and other costs that were involved with their accounts.Robert Foley (Robert Patrick Foley CRD# 6060234) is a broker and investment advisor whose last known employer was Wynston Hill Capital, LLC (CRD#:103811) of Red Bank, NJ. Previous employers include Maxim Group LLC (CRD#:120708) of New York, NY, Pruco Securities, LLC. (CRD#:5685) of Paramus, NJ, and Metlife Securities Inc. (CRD#:14251) of Elmsford, NY. He has been in the industry since 2012. Continue reading ›

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Michael Lian (Michael Emile Lian CRD# 2639356) is a previously registered broker whose last known employer was National Securities Corporation (CRD#:7569) of Clearwater, FL. His previous employers include Aegis Capital Corp. (CRD#:15007), National Securities Corporation (CRD#:7569), and Newbridge Securities Corporation (CRD#:104065), all in Red Bank, NJ. He has been in the industry since 1995. National Securities Corporation discharged Lian after discovering that he accepted a cash gift of $8,000 in 2017 from a client without notifying the firm or requesting permission before accepting. The gift was made while he was registered with Aegis, as a “thank-you” for a recommendation. Lian also circumvented Aegis’ written policies to conceal the gift from the firm, which prohibited anything over $100. National discharged Lian on those grounds. FINRA initiated an investigation and twice requested information from. After ignoring these requests, Lian finally supplied FINRA with the requested documentation. Lian was then suspended for 8 months and sanctioned with a $10,000 fine. He signed the Letter of Acceptance, Waiver & Consent (AWC) and the suspension became effective on 12/2/2021, set to end 8/6/2022. Lian has one additional disclosure, dated. 12/12/2012. A client dispute alleges that Lian “misrepresented a recommendation to purchase VHC.” The client requested damages of $14,000 and the claim was settled for $6875. No additional information is available.Michael Lian (Michael Emile Lian CRD# 2639356) is a previously registered broker whose last known employer was National Securities Corporation (CRD#:7569) of Clearwater, FL. His previous employers include Aegis Capital Corp. (CRD#:15007), National Securities Corporation (CRD#:7569), and Newbridge Securities Corporation (CRD#:104065), all in Red Bank, NJ. He has been in the industry since 1995. Continue reading ›

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Activist investment firm Blue Orca Capital recently published a report on Li-Cycle Holdings Corp. (LICY) (“Li-Cycle” or the “Company”) indicating that its financial standing isn’t as stable as the company’s press releases indicate. Blue Orca’s report describes the company as one that uses predictions as reported revenues, and that “Li-Cycle recognizes revenues using an Enron-like mark-to-model accounting gimmick.” The report goes on to say, “In our opinion, Li-Cycle is a fatal combination of SPAC trash, stock promotion, awful corporate governance, faulty accounting, and a broken business model which is not economically viable.”Activist investment firm Blue Orca Capital recently published a report on Li-Cycle Holdings Corp. (LICY) (“Li-Cycle” or the “Company”) indicating that its financial standing isn’t as stable as the company’s press releases indicate.

Blue Orca’s report describes the company as one that uses predictions as reported revenues, and that “Li-Cycle recognizes revenues using an Enron-like mark-to-model accounting gimmick.” Continue reading ›

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Northstar Financial Services (Bermuda) offered investment and annuity-type products to investors outside the United States.  The company was based in Bermuda and claimed to offer various benefits such as tax shelters that were not available to U.S.-based investors.  Northstar relied on a network of financial advisors and brokerage firms across the United States and abroad to sell its products to investors. Unfortunately, Northstar has collapsed and is undergoing liquidation (similar to bankruptcy) proceedings in Bermuda, where it is expected that investors will suffer heavy losses. Brokers and financial advisers are obligated to conduct due diligence and monitor the investments they recommend, to ensure that the investments they recommend are appropriate for their customers, and to diversify their customers’ portfolios to at least minimize the risks of products like Northstar. Silver Law Group has filed arbitration claims on behalf of Northstar investors against selling broker-dealers such as SunTrust (now Truist), Ocean Financial Services, and Cetera Investment Services for the improper sale of Northstar Financial Services (Bermuda).  Silver Law Group has helped its clients recover and continues to litigate other cases.Northstar Financial Services (Bermuda) offered investment and annuity-type products to investors outside the United States.  The company was based in Bermuda and claimed to offer various benefits such as tax shelters that were not available to U.S.-based investors.  Northstar relied on a network of financial advisors and brokerage firms across the United States and abroad to sell its products to investors. Continue reading ›

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Silver Law Group represents Northstar Financial Services (Bermuda) investors and has filed arbitration claims against brokerage firms that improperly sold Northstar products to investors. Silver Law Group’s clients allege that the selling firms pitched Northstar as a safe, conservative investment that was comparable to bank certificates of deposit (CDs), and that financial advisors represented that Northstar was guaranteed to provide monthly interest and protection of principal. Unfortunately, Northstar is currently undergoing liquidation proceedings in Bermuda, similar to a bankruptcy. It is unknown exactly how much investors will receive from the Joint Provisional Liquidation, but it is likely that investors will suffer large losses.Silver Law Group represents Northstar Financial Services (Bermuda) investors and has filed arbitration claims against brokerage firms that improperly sold Northstar products to investors. Silver Law Group’s clients allege that the selling firms pitched Northstar as a safe, conservative investment that was comparable to bank certificates of deposit (CDs), and that financial advisors represented that Northstar was guaranteed to provide monthly interest and protection of principal. Continue reading ›

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