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Read MoreMare Island Dry Dock Files Chapter 11 in California: Taglich Brothers Placed Four Private Offerings in the Company Since 2017
Mare Island Dry Dock, LLC, the ship-repair operator on the former naval base in Vallejo, California, filed for Chapter 11 on February 14, 2026 in the United States Bankruptcy Court for the Eastern District of California (Case No. 26-20777). Court records put the company’s liabilities between $10 million and $50 million.
For investors, the more important document trail is at the SEC. Over eight years the company’s investment affiliate, Mare Island Dry Dock Investment LLC (CIK 1589881), raised money from private investors in four separate offerings — and paid the same New York broker-dealer a commission on each one.
The offerings and the commissions
| Form D — February 7, 2017 | $1,500,000 offered and sold; sales commissions $120,000; associated broker-dealer: Taglich Brothers, Inc. |
| Form D — December 21, 2017 | $1,250,000 offering; sales commissions $100,000; recipient: Taglich Brothers, Inc. |
| Form D/A — March 14, 2018 | $3,400,000 offered and sold; sales commissions $272,000; recipient: Taglich Brothers, Inc. |
| Form D — April 18, 2025 | $3,240,000 offering; $1,115,000 sold at filing; sales commissions $240,000; recipient: Taglich Brothers, Inc. |
| Exemption | Rule 506(b) of Regulation D on all four filings |
Taglich Brothers, Inc. (FINRA CRD No. 29102) is a retail-oriented brokerage based in New York that specializes in raising capital for small companies and distributing those placements to its own customer base. On the Mare Island offerings, Taglich’s disclosed compensation ran to 8% of the money raised — $732,000 in total across the four filings.
The timing of the final offering deserves attention. Investors who bought into the April 2025 round put money into a company that would file for bankruptcy protection ten months later.
Questions Mare Island investors are entitled to ask
- What did Taglich Brothers know about Mare Island’s financial condition in the spring of 2025, and what did it tell investors?
- Was a leveraged, single-site industrial business an appropriate recommendation for each customer who was placed in it?
- Were the risks of an illiquid 506(b) security — including the possibility of total loss — explained, along with the size of the commission?
FINRA requires a broker-dealer to conduct a reasonable investigation before recommending a private placement (Regulatory Notice 10-22) and to make only recommendations that are suitable and in the customer’s best interest (Rule 2111; Regulation Best Interest). A firm that earns 8% to place an offering is held to those standards.
Talk to us
Carlson Law is investigating claims on behalf of Mare Island Dry Dock investors.
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.
