Have You Lost Money by Investing in a Technology Company?
Sometimes betting on the stock market can almost be worse than roulette–you never know when something is going to implode. It’s not uncommon to hear of investors attempting to get in on the ground floor of startups and up-and-coming technology companies, only to be swindled out of hundreds of thousands of even million of dollars in funding. Personal injury usually falls in the realm of actual physical injury, but in some cases a suit can be filed as a result of financial injury.
Such is the case with AIMSI Technologies and the charges that the Securities Exchange Commission laid out against them. In June of 2004, AIMSI Technologies became public and the troubles began, mainly stemming from a promotional campaign they released that later that year consisting of “press releases, mass fixes, and internet postings in which they repeatedly and deliberately materially misrepresented AIMSI’s financial prospects and touted AIMSI common stock”, according to official reports.
Among the claims of the case are manipulation of the market and overstatement of financial assets, which led to unknowing stock buyers buying shares of a company that did not live up to its promise and led to large losses for many buyers. Because of these actions, AIMSI Technologies paid penalties that went towards establishing a distribution fund for those who had been wronged by the fraudulent claims, a fund that was established in 2017.
Financial Injuries are Real–And Should Be Taken Seriously
While most personal injury attorneys only handle physical injuries, in this case, the injury done to those who bought AIMSI Technologies’ common stock may fall under the purview of a personal injury attorney. Typically, any kind of harm that constitutes a change in circumstance in your life can be classified as a personal injury.
But the main problem with this is that, while the financial compensation can be helpful to those that lost their livelihoods, it may not always fix the issues brought on by this kind of fraudulent behavior. Even if something is not technically illegal, it may cause financial injury to you, your business, or your family and those responsible should pay for their actions, even if they never committed a crime.
What Can We Learn From the AIMSI Technology Case?
For some people who decide to get into investing into technology, they usually have some knowledge of the market, whether it comes from a financial advisor or from their own research. However, companies like AIMSI take advantage of the fact that others who are just starting out do not have that knowledge to back them up and warn them away from offers that seem too good to be true.
One of the most important lessons that we can learn from this case is to do your research. If something seems like a sure thing, especially in the investing world, that’s the moment that you should run in the other direction. Nothing is certain in this life, and no one can guarantee that your investment will turn out profitable–only time can show that.
In order to avoid financial and personal injury, staying cautious and careful is always your best bet. But if you are caught in a situation where someone else is at fault or responsible for your suffering, it’s best to contact a personal injury attorney immediately to ensure that you get the compensation and justice that you deserve.