Galvin Legal, PLLC is launching an investigation on behalf of investors who suffered losses investing in Aradigm Corporation (Nasdaq: ARDM) at the recommendation of their financial advisor. If you suffered losses investing in Aradigm Corporation (Nasdaq: ARDM), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim against the brokerage firm that recommended the investment.
According to a press release, on February 15, 2019, Hayward, California based Aradigm Corporation (Nasdaq: ARDM) filed for bankruptcy protection. Aradigm Corporation (Nasdaq: ARDM) financial challenges are connected to its respiratory drug delivery system for use with an antibiotic that treats certain chronic lung infections. On January 29, 2019, the FDA reportedly rejected the drug and requested that the company run an additional two-year Phase 3 study.
FINRA requires brokerage firms to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
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