Our lawyers have filed a FINRA arbitration claim against Raymond James on behalf of an aggrieved investor who lost thousands of dollars investing in risky oil and gas securities.
In order to handle the numerous claims of aggrieved investors who lost money in the risky oil and gas market, Silver Law Group has teamed up with attorneys at The Law Firm of David R. Chase, P.A. and Ciklin, Lubitz & O’Connell. The firms combined experience and resources will better-assist in producing the best possible outcomes for our clients.
Our client lost much of their investment after a Raymond James broker unsuitably recommended and overconcentrated our client’s funds in oil and gas securities.
Due to oil’s notorious volatility and analysts’ inability to accurately predict its value, the underlying and related securities are notoriously risky. Our client was a conservative investor, seeking only to amass with zero risk to the principal.
Raymond James was a market maker and underwriter for some of the oil and gas issuers, including EV Energy Partners LP, Linn Energy, LLC, and LinnCo, LLC and had an interest in the sale of these securities.
What was once deemed a promising investment, Linn Energy has plummeted from grace. The master limited partnership (MLP) surpassed $40 per share as recently as late 2012. Since that time, Linn Energy has dramatically declined and recently declared bankruptcy. But Linn Energy is not the only company in the oil and gas industry that has suffered.
Numerous companies have declared bankruptcy due to oil prices dramatically dropping. While many companies locked in the higher prices using a strategy called hedging, like Linn Energy, the strategy could only last so long. Eventually, the market caught up and proved many of these companies over-extended themselves.
In the same fashion, the market caught up with many brokers and brokerage firms that heavily recommended these investments, even to conservative investors seeking to preserve their principal.
Many brokers got caught up in the façade that was ever-increasing crude oil, improperly recommending MLPs, bonds, private placements, stocks, and other oil and gas securities to conservative investors based upon the high yields of these investments rather than the risk to principal. Seeming like a sure bet and untouchable, these brokers neglected to conduct due diligence and investigate these investments and negligently recommended them to customers.
Despite market trends, there is no excuse to depart from time-tested principals brokers are required to employ with their customers, such as recommending suitable investments for each customer and diversifying their portfolios.
Become informed about your rights, explore whether you have a claim and see if we can be of assistance in trying to recover your investment losses. Cases are taken on a contingency fee basis, meaning no attorney’s fee is owed if there is no recovery. Our lawyers have collectively represented hundreds of investors in FINRA or securities arbitration claims and recovered millions of dollars from large and regional brokerage firms.
For more information about the Law Firms, the lawyers, and the oil and gas investment practice area, please visit the oil and gas investment website at: www.oilgasfinraarbitration.com. You can also contact toll-free Mr. Silver at: (800) 975-4345 for a confidential, no-cost consultation on the potential for recovery of your investment losses. Our attorneys represent clients nationwide in securities cases to recover investment losses. There is no fee unless we obtain a recovery for you.