WARNING-INVESTMENT FRAUD! BRS LABS (now known as GIANT GRAY, INC.)
SEC Files Case Against Ray Davis and Behavorial Recognition Systems Labs (now Giant Gray)
Have you invested in a company called Behavioral Recognition Systems Laboratories, now known as Giant Gray, Inc.? Our investment fraud law firm is investigating claims made against financial advisors and brokerage firms who recommended that investors invest in Behavorial Recognition Systems (or BRS), a tech company. The SEC (Securities and Exchange Commission) recently brought a case against Ray C. Davis, the founder and Chairman of the Board of BRS Labs, alleging fraud. The SEC alleged that misused nearly $8 million in investor funds, and that the offering materials contained material misrepresentations.
According to BrokerCheck, a website maintained by FINRA (the Financial Industry Regulatory Authority), financial advisor Scott Reed has been the subject of an arbitration claim filed by a customer who complained about investment losses. The complaint was made related to conduct of Reed while he was affiliated with David A. Noyes & Company, a FINRA-member brokerage firm based in Chicago, Illinois. It is believed that the investor complained about losing money investing in BRS Labs.
According to a 2009 article on chron.com, Scott Reed and David A. Noyes & Company helped raise capital on behalf of BRS Labs (now Giant Gray). Scott Reed was affiliated with David A. Noyes & Company between 1993 and 2016 and worked in an office in Indianapolis, Indiana.
When brokers and brokerage firms recommend a particular investment to a customer, they must perform adequate due diligence on the company before recommending the invest, so that they can adequately disclose all the risks of investing to the investor. If the broker or firm fails to do so, it may be liable for the investor’s losses.
Israels & Neuman is an investment fraud and securities arbitration law firm with offices in Denver, Colorado; Chicago, Illinois; Ann Arbor, Michigan; and the Seattle area. Our attorneys have represented over one thousand investors all over the country, including customers throughout the MidWest, including Illinois, Indiana, Ohio, and Michigan. Our attorneys have also previously represented investors against David A. Noyes & Company.
Click to view: David A. Noyes BrokerCheck 7.21.17 (1)
Click to view: BRS Form D March 2009 (1)
Click to view: BRS SEC Complaint
If you lost money investing in Behavioral Recognition Systems Labs (Giant Gray) through David A. Noyes & Company and/or Scott Reed, please CONTACT ISRAELS & NEUMAN for a free case evaluation.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.