Galvin Legal, PLLC is launching an investigation on behalf of investors who suffered losses investing in Avadel Pharmaceuticals (AVDLQ) at the recommendation of their financial advisor. If you suffered losses investing in Avadel Pharmaceuticals (AVDLQ), 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.
On February 7, 2019, Avadel Specialty Pharmaceuticals, a subsidiary of Ireland based Avadel Pharmaceuticals (AVDLQ), reportedly filed for bankruptcy protection. The company’s financial challenges were in connection with sales of the drug Noctiva, which reportedly launched in March 2018 as the first FDA-approved treatment for nighttime urine overproduction, according to BioPharma Dive. The drug reportedly had very little success.
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.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.