Goodman & Nekvasil P.A, May Recover Investor Losses – Islet Sciences, Inc. (f/k/a “ISLT”) Stock
The Financial Industry Regulatory Authority, Inc. (“FINRA”) filed a disciplinary action against Kyle Patrick Harrington, a former stock broker with National Securities Corporation. FINRA alleges in this disciplinary action that Kyle Harrington entered into a “consulting” arrangement with Islet Sciences, Inc. (f/k/a “ISLT”) sometime in 2011, whereby Kyle Harrington received over 800,000 shares of restricted Islet Sciences, Inc. (f/k/a “ISLT”) stock as “compensation” for his services, including the introduction of potential investors to Islet Sciences, Inc. (f/k/a “ISLT”). FINRA alleges that after Kyle Harrington joined National Securities Corporation, Kyle Harrington began opening accounts through National Securities Corporation for Kyle Harrington and other Islet Sciences, Inc. (f/k/a “ISLT”) investors to deposit their restricted stock. By mid-October 2012, Kyle Harrington had opened customer accounts collectively holding approximately $20 million in restricted Islet Sciences, Inc. (f/k/a “ISLT”) stock at National Securities Corporation. According to FINRA, Kyle Harrington subsequently sold some of his restricted Islet Sciences, Inc. (f/k/a “ISLT”) stock to two individuals in violation of FINRA rules. FINRA alleges that Kyle Harrington falsified documents and information to conceal these private securities transactions from National Securities Corporation. FINRA also alleges that Linda Milberger, Kyle Harrington’s sales assistant, assisted Kyle Harrington in concealing Kyle Harrington’s sale of Islet Sciences, Inc. (f/k/a “ISLT”) stock by submitting altered bank statements to FINRA.
If you invested in Islet Sciences, Inc. (f/k/a “ISLT”) stock through Kyle Harrington, you may be able to recover your losses from National Securities Corporation. This is because National Securities Corporation had a duty to supervise Kyle Harrington.
If you lost money on investments in Islet Sciences, Inc. (f/k/a “ISLT”) stock with Kyle Harrington, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against National Securities Corporation. 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.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $170 million on behalf of victimized investors. If you lost money on Islet Sciences, Inc. (f/k/a “ISLT”) stock or any other investments with Kyle Harrington, 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.
Keywords: Islet Sciences, ISLT, Kyle Harrington, Harrington, FINRA, SEC, FINRA, National Securities Corporation, Linda Milberger, Milberger, Goodman and Nekvasil, Nekvasil, Goodman