Behavioral Recognition Systems, Inc. (BRS Labs) n/k/a Giant Gray and Ray C. Davis Charged by SEC – Goodman & Nekvasil, P.A., May Recover Investor Losses
BRS Labs – Behavioral Recognition Systems, Inc. – Giant Gray – Ray C. Davis Charged by SEC
Behavioral Recognition Systems, Inc. (BRS Labs) now known as Giant Gray, Inc., is a Texas corporation whose principal place of business is Houston, Texas. According to the SEC, Behavioral Recognition Systems, Inc. (BRS Labs) was founded in 2005 and sold video analytic software that allows linked video cameras or other systems to recognize certain abnormal or suspicious events chosen by the user.
A complaint filed by the SEC alleges that Ray C. Davis and Behavioral Recognition Systems, Inc. (BRS Labs) (now known as Giant Gray, Inc.) (“BRS”) engaged in a fraudulent scheme that began as early as March 2010. As part of the scheme, according to the SEC, the Defendants solicited over $28 million from investors in seven equity security offerings between January 2013 and July 2015 (the “Relevant Period”). To raise the funds, according to the SEC, Behavioral Recognition Systems, Inc. made material misrepresentations and misleading statements to investors regarding Behavioral Recognition Systems, Inc. (BRS Labs): (1) intended use of investor proceeds; (2) executive compensation; (3) related party transactions; and (4) operating expenses.
The SEC alleges that Ray Davis used diverted investor funds for his own purposes, including: (a) $5.2 million in transfers to Davis’s and his wife’s joint bank account; (b) purchases from an art gallery in Boca Raton, Florida; and (c) payments to a well-known auction house. The SEC alleges that Ray Davis also caused Behavioral Recognition Systems, Inc. (BRS Labs) to send an additional $679,000 to an antiques broker to pay for Davis’ personal purchases of ancient jewelry, gold, and other artifacts, including gold pendants, gold crosses, pearl bracelets, garnet pendants, and gold rings.
If you purchased your Behavioral Recognition Systems Labs, Inc. (BRS Labs) investment from a licensed financial advisor, Goodman & Nekvasil, P.A. can help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has filed hundreds of cases against brokerage firms selling high-risk or fraudulent investments such as Behavioral Recognition Systems, Inc. (BRS Labs) and has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of your Behavioral Recognition Systems Inc. (BRS Labs) investment.
If you incurred losses on your investment in Behavioral Recognition Systems Labs, Inc. (BRS Labs) and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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