Attention Oil and Gas Investors: Stockbrokers’ Sales Practices of Private Oil & Gas Investment Products Investigated
Stockbrokers’ Inappropriate Recommendations of Oil and Gas Investment Products Investigated by Securities Lawyers
Unsuitable investment recommendations in oil and gas investment products have caused many elderly investors to suffer significant losses, according to Alan Rosca, a Peiffer Rosca Wolf partner who often represents victims of investment fraud and misconduct. Over the past year, many private oil and gas companies have defaulted or have shut down, resulting in significant financial pain for private investors who relied on those investments to generate income for their retirement.
More pain is likely on the way for oil and gas investors, as producers in the United States continue to suffer due to depressed prices. As of November 13, at least 19 companies in the oil development and extraction field in the U.S. have defaulted or shut down since 2014, according to federal court filings and media reports. Many publicly-traded oil companies have seen their share prices fall 80% or more since 2011 and many are now trading below $5 per share.
Risky Oil and Gas Investments Sold to Many Investors Without Adequate Disclosures or in Excess Quantities
Many oil and gas companies are risky investments that are unsuitable for large numbers of investors, especially senior investors concerned about protecting their nest egg, said Peiffer Rosca Wolf partner Alan Rosca. The Peiffer Rosca Wolf lawyers are investigating instances where investment professionals and their brokerage firms recommended and sold such oil and gas investment products to their customers, without adequately cautioning such investors about the risks involved in those products. In other instances, investment professionals have sold large amounts of risky oil and gas products to individual investors, in effect putting most of their eggs in the same basket.
Many oil and gas investors are now critically examining their portfolios, in the wake of substantial losses generated by their oil and gas investments. Others are finding that their brokers did not do their due diligence in independently researching such risky investment products before recommending them to their customers, in breach of their duties.
Peiffer Rosca Wolf Investor Right Lawyers Preparing to Assist Oil and Gas Investors
The Peiffer Rosca Wolf law firm’s securities lawyers, Alan Rosca and Joe Peiffer, have opened an investigation into inappropriate investment recommendations to public investors, involving oil and gas companies. Rosca, Peiffer, and the other securities attorneys in the firm are focusing the investigation on whether brokerage firms and their investment professionals adequately disclosed the risk features of such investments to their customers, and whether investors were over-concentrated in such risky products.
Investors who have questions about their oil and gas investment losses or may provide information that could help the Peiffer Rosca Wolf lawyers’ investigation may contact attorneys Alan Rosca or Joe Peiffer for more information or to discuss this matter, toll-free at 888-998-0520, by email at email@example.com, or through the contact form on this website. All consultations on oil and gas investments are free, no-obligation.