Our attorneys are investigating the suitability of recommendations made by Morgan Stanley (CRD# 149777) and its financial advisors to invest in Seadrill Ltd. and other oil and gas investments and master limited partnerships (“MLPs”).
Morgan Stanley has touted Seadrill at multiple points during the oil and gas investment’s life. Morgan Stanley served as a book-running manager and underwriter of Seadrill’s initial public offering (“IPO”). Morgan Stanley has served in similar capacities in at least one other Seadrill public offering.
Morgan Stanley has also featured Seadrill as a presenter at one of its energy conferences in 2014. Seadrill hired Morgan Stanley as an advisor on debt talks for the company in 2016. As recently as February 2017, Morgan Stanley upgraded its outlook on Seadrill. Now, it appears only two (2) analysts cover Seadrill due to its most recent drop in value. It’s not clear if one of those two is Morgan Stanley.
Seadrill is an offshore drilling contractor that was once an oil and gas industry darling. Seadrill has been toiling in penny stock territory since the beginning of 2016, but it recently took a huge hit as the company announced that it would most likely declare bankruptcy. The stock now trades at approximately $0.70 per share.
Our attorneys are investigating whether certain Morgan Stanley financial advisors made unsuitable recommendations to purchase Seadrill and other oil and gas investments to those who were not appropriate to assume the risk and volatility of these securities, particularly elderly investors living on income. Our attorneys are also investigating whether clients’ portfolios were improperly over-concentrated in oil and gas investments based upon their advisor’s recommendations.
If you have lost money investing in Seadrill or any other oil and gas investments with Morgan Stanley, contact our attorneys for information on how you can try to recover your losses through FINRA arbitration. Cases are taken on a contingency fee basis, meaning no attorney’s fee is owed if there is no recovery.
For more information about the law firms, the lawyers, and our oil and gas investment practice area, please visit our website at www.oilgasfinraarbitration.com. Contact Scott L. Silver at (800) 975-4345 for a free, confidential consultation.