The national securities law firm, Levin Law, P.A. (“Levin Law”) is investigating brokerage firms that recommended and sold the Cohen & Steers MLP Income and Energy Opportunity Fund (ticker symbol, MIE) to their clients. If your investment advisor, stockbroker or other financial professional recommended and sold the Cohen & Steers MLP to you and you suffered significant losses, please contact us at 305-402-9050 or email@example.com. On February 20, 2020, MIE closed at $7.26 per share. As of April 2, 2020, MIE was trading at $1.87 per share, i.e., approximately 75% lower than its share price just 6 weeks before. Many brokerage firms marketed and sold MIE as being a conservative investment. Further, many financial institutions recommended and sold MIE to risk-averse investors, such as retirees and those seeking capital preservation and income, without fully explaining all the important risks of MIE.
MIE and Other Energy-Based MLPs are Risky and Complex Investments
MIE is a Master Limited Partnership (“MLP”). Many MLPs are risky and can cause investors significant losses, particularly during times of market turbulence. The majority of MIE’s holdings are in energy-based investments. Energy-based MLPs can be quite risky, but unfortunately many financial advisors inform their customers that the energy MLPs are “safe” or conservative. When making recommendations to purchase securities, including MLPs, 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 MLPs, resulting in investors thinking that their MLP investments were “safe.” Such investors were justifiably surprised when their so-called safe investments dropped around 75% during the most recent market decline, resulting in part due to the spread of the COVID-19.
Broker-dealers that sold MIE may have failed to fully and accurately disclose all material risks of MIE prior to recommending and selling MIE to customers. Brokerage firms that did not properly disclose the material risks of MIE or engaged in other wrongdoing regarding MIE may be liable for investors’ losses. Aggrieved investors may be able to recover their losses by suing their brokerage firm in a Financial Industry Regulatory Authority (“FINRA”) arbitration.
Contact Levin Law at (305) 402-9050 or firstname.lastname@example.org today if you were an investor in any Cohen & Steers MLP Income and Energy Opportunity Fund. Levin Law represents investors throughout the United States and the rest of the world. Levin Law’s founding attorney has recovered nearly $100 million in assets for investors.
If your financial advisor, broker, or other investment professional recommended that you purchase the Cohen & Steers MLP Income and Energy Opportunity Fund and you have lost money, you may be able to recover your losses through a FINRA arbitration claim.
If you have suffered losses in the MIE fund, please contact Levin Law managing partner, Brian Levin, at 305-402-9050, email@example.com, or visit Levin Law’s website, www.levinlawpa.com. Levin Law accepts most cases on a contingency-fee basis, meaning that clients are not obligated to pay Levin Law’s attorney fees unless money is recovered for the investor.
Levin Law is a premier securities and class action law firm with significant experience. Brian Levin, Levin Law’s founding attorney, has helped recover around $100,000,000 through securities arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.