The national securities law firm, Levin Law, P.A. (“Levin Law”) is investigating brokerage firms that recommended and sold shares in Talos Energy (ticker symbol, TYG) (“Talos Energy”), bonds issued by Talos, or other oil and gas investments to their customers. If your stockbroker, investment advisor, or other financial professional recommended and sold shares in Talos Energy, Talos bonds, or other oil and gas investments to you and you suffered significant losses, please contact us at (305) 402-9050 or firstname.lastname@example.org. In the last several months, Talos Energy dropped approximately 80% in value. Many financial institutions marketed and sold Talos Energy as being a conservative investment. Further, many financial institutions recommended and sold Talos Energy to investors with low risk tolerances, such as retirees and those seeking income and capital preservation, without fully and adequately disclosing the important risks and rewards of Talos Energy.
Investments in Oil and Gas Companies Can be Risky
Talos Energy is an oil and gas company that engages in the exploration, development, and production of oil and natural gas properties in the Gulf Coast and Gulf of Mexico. Unfortunately, oil and gas companies can be risky – particularly when financial advisors recommend that customers invested a significant percentage of their money in such oil and gas companies, known as over-concentration. Unfortunately, many financial advisors informed their customers that placing a significant portion of their account assets in oil and gas investments was a “safe” or conservative strategy. When making recommendations to purchase securities, financial advisors have the duty to fully explain all materials risks of such investments. Many financial advisors, however, failed to disclose the true risks inherent in Talos Energy, resulting in TALO investors thinking that their investments were “safe.” Many investors were shocked when their so-called safe investments dropped around than 80% in value during the most recent market decline, resulting in part due to the spread of the Coronavirus and the decline in the oil and gas markets. Aggrieved investors may be able to recoup their losses by suing their financial institutions in a Financial Industry Regulatory Authority (“FINRA”) arbitration.