Cell Point LLC Charged by SEC | Recover Investment Losses

Cell Point LLC Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:  

The Securities and Exchange Commission today charged Cell>Point, LLC, a Colorado radiopharmaceutical company, its CEO Greg Colip, and its CFO Terry Colip with fraudulently offering and selling approximately $10 million in securities to at least 151 investors.

The SEC’s complaint, filed in U.S. District Court for the District of Colorado, alleges that, between January 2016 and February 2021, Cell>Point and the Colips solicited investors by making false and misleading statements that Cell>Point’s lead product, an injectable compound designed for lung cancer and cardiovascular imaging, was months away from completing clinical trials that would lead to its commercialization and, ultimately, substantial returns for investors. The SEC alleges that, contrary to such statements, Cell>Point suspended its clinical trials in 2014, and never resumed them because of significant issues with its product. The SEC also alleges that Cell>Point and the Colips made false and misleading statements that overstated the capital that Cell>Point raised since its inception by nearly $50 million and that misleadingly characterized $38 million that Cell>Point owed to its founders as a “contribution” by them to Cell>Point.

The SEC’s complaint charges Cell>Point, Greg Colip, and Terry Colip with violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint seeks permanent injunctions, disgorgement plus prejudgment interest, and civil penalties against Cell>Point, Greg Colip, and Terry Colip, and officer and director bars against the Colips.

Investors in Cell Point LLC May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in Cell Point LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 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.

If you incurred investment losses with Cell Point LLC 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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