Clearday Inc. Losses? | Goodman & Nekvasil P.A., May Recover Investor Losses
Clearday Inc. Losses? Contact Goodman & Nekvasil, P.A
Clearday Inc. Chairman and Chief Executive Officer Files for Bankruptcy after Multiple Customer Complaints
According to the company website, James T Walesa is the CEO and Chairman of the board of directors for Clearday Inc.
Mr. Walesa is the subject of multiple FINRA arbitration complaints based on his involvement with Clearday Inc. and other private placements he recommended to his customers. Walesa recently filed for bankruptcy in the Western District of Texas. He reported $18,999,842.03 in unsecured claims and many of those allegedly associated with investments in private placements offered by Walesa.
Clearday Inc. and the Risks of Alternative Investments
Many investors are not fully aware of the problems and risks associated with high risk, alternative investments when they purchase them.
Alternative Investments are often riskier and more complicated than traditional investments. Clearday Inc. stock, (CLRD) lost approximately 98% of its value over 5 years, according to Google Finance.
Liquidity Issues and High Sales Commissions
Private placements can face several liquidity issues due to their unique characteristics and structure.
Another problem often associated with private placements is the high sales commissions brokers typically earn for selling them. Brokers have an obligation to make investment recommendations that are consistent with their clients risk tolerance, net worth, investment objectives and experience in the market.
Unfortunately, in many cases, the high sales commission may influence unsuitable investment recommendations.
Broker Due Diligence
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms that fail to do so may be held responsible for any losses in a FINRA arbitration claim.
If you believe that your investments in Clearday Inc. may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. If we don’t recover money for you, we charge no attorney’s fee.
Goodman & Nekvasil, P.A. has recovered more than $400 million on behalf of victimized investors. If you lost money on investments in unsuitable investments and would like your case evaluated by a securities attorney, please contact us.