Northwest Biotherapeutics (OTCQB: NWBO), a clinical-stage biotechnology company focused on developing personalized cancer vaccines, has been making headlines recently, but not for the reasons investors might hope. The company has filed a lawsuit against several prominent market makers, alleging repeated stock price manipulation over five years. This news comes as a blow to investors who have suffered significant losses due to the alleged misconduct of financial advisors who misrepresented the stock.
Investors that have losses with Northwest Biotherapeutics (OTCQB: NWBO) by a financial advisor may call our experienced investment fraud lawyers on loss recovery options at 1-888-885-7162 .
Allegations of Market Manipulation
Table of Contents
According to the lawsuit filed by Northwest Biotherapeutics, market makers such as Citadel Securities LLC, Canaccord Genuity LLC, and Virtu Americas LLC engaged in a deceptive tactic known as spoofing. This involves placing large quantities of sell orders to artificially drive down the company’s stock price, allowing the market makers to buy at a lower price before canceling the sell orders and reaping the profits.
Northwest Biotherapeutics’ alleged illegal trading behavior has made it more challenging for the Company to raise funds to market its promising cancer treatments. The company believes this misconduct has harmed investors and potentially delayed access to life-extending therapies for cancer patients.
Investor Losses and Financial Advisor Malpractice
Many investors in Northwest Biotherapeutics stock have suffered substantial losses due to the alleged market manipulation and financial advisors’ misrepresentation of the stock. These advisors may have failed to disclose the risks associated with investing in a clinical-stage biotechnology company or provided misleading information about the company’s prospects.
Such misconduct by financial advisors can be considered malpractice, and investors who have experienced losses may be entitled to recover damages through legal action.
Pursuing Recovery Through FINRA Arbitration
Investors who have suffered losses due to financial advisor malpractice can consider pursuing recovery through FINRA (Financial Industry Regulatory Authority) arbitration. This process allows investors to seek compensation for damages caused by the misconduct of financial professionals.
Haselkorn & Thibaut, a national investment fraud law firm, is investigating allegations against financial advisors who misrepresent Northwest Biotherapeutics stock to investors. The firm has a 98% success rate in helping investors recover losses through FINRA arbitration. It operates on a “No Recovery, No Fee” basis, ensuring that clients can seek justice without worrying about upfront costs.
The Importance of Holding Financial Advisors Accountable
Financial advisors must provide accurate and transparent information to their clients, enabling them to make informed investment decisions. When advisors breach this trust and engage in misconduct, holding them accountable for their actions is crucial.
By pursuing legal action against financial advisors who have misrepresented investments or failed to disclose risks, investors can seek to recover their losses and send a clear message that such behavior will not be tolerated in the financial industry.
Moving Forward
As the lawsuit against the market makers progresses and more information comes to light, investors in Northwest Biotherapeutics stock should stay informed about their rights and options for recovery. Those who have experienced losses due to financial advisor malpractice should seek the guidance of experienced investment fraud attorneys to assess their case and determine the best course of action.
While the road to recovery may be challenging, holding financial advisors accountable for their misconduct is an essential step in protecting investors’ rights and maintaining the integrity of the financial markets. By working together and acting against wrongdoing, investors can help create a more transparent and trustworthy investment environment.
