Carbon Revolution

ChapmanAlbin is pursuing claims against Fidelity Brokerage Services on behalf of shareholders in Carbon Revolution (CREV). The legal action against Fidelity arises out of the brokerage firm’s alleged failure to ensure that its account holders’ Carbon Revolution shares would be tradeable when Carbon Revolution listed on the NASDAQ stock exchange.

Carbon Revolution—formerly listed on the Australian Stock Exchange under the ticker symbol ASX:CBR—is an Australian automotive parts manufacturer, which was recently acquired by an American firm. After the merger, Carbon Revolution listed on the NASDAQ stock exchange under the new symbol, CREV.

Fidelity’s customers who are represented by ChapmanAlbin were early investors in Carbon Revolution. Their complaint filed in FINRA arbitration asserts that they would have realized substantial gains when Carbon Revolution began trading on the NASDAQ, but Fidelity allegedly failed to follow its account holders’ instructions and take steps necessary to enable them to sell their shares. As a consequence of Fidelity’s alleged inaction, investors were locked out of a golden opportunity to sell when Carbon Revolutions’ share price reached an all-time high.

Brokerage firms like Fidelity have a duty to follow their customers’ instructions and ensure account holders can trade the shares they rightfully own. When they fail in that duty, broker-dealers may be liable to their account holders for damages. If you lost money because your Carbon Revolution shares became untradable, contact ChapmanAlbin for a free consultation.