National securities and investment fraud law firm, Levin Law, P.A. (“Levin Law”) is investigating brokerage firms that recommended and sold shares in Chesapeake Energy (ticker symbol, CHK) (Chesapeake) to their customers.
If your stockbroker, investment advisor, or other financial professional recommended that you invest in Chesapeake Energy and you suffered significant losses, please contact Levin Law at 305.402.9050 or submit an email to firstname.lastname@example.org to speak directly to an attorney.
As reported by multiple outlets, including The Washington Post, Chesapeake Energy filed for Chapter 11 bankruptcy. The Oklahoma company, which once led the industry in fracking, becoming one of the country’s largest shale gas producers, had accumulated nearly $9 billion in debt. Low gas prices, decreased demand due to the pandemic, and years of poor leadership devastated the company.
The energy sector, including oil and gas companies, is risky for the average investor. Financial advisors and other financial professionals are required to fully and adequately disclose all risks related to any investment. Recommending that an investor purchase large positions in a risky sector or individual stock can result in significant losses.
Unfortunately, some brokers and advisors will present investment in the oil and gas market as a safe, low-risk strategy. The energy sector can be volatile, particularly in uncertain economic times. The COVID-19 / Coronavirus pandemic, along with a global decrease in demand, has stunned the oil and gas industry, resulting in meaningful investment losses. Recommendations that make an investor’s portfolio over concentrated in a single sector of the economy or security are generally unsuitable.
Levin Law continues to investigate brokerage firms who recommended that their customers invest heavily in Chesapeake Energy, resulting in significant customer losses. If your investment professional recommended that you purchase significant amounts of Chesapeake Energy stocks or bonds and you suffered losses, contact Levin Law today at 305.402.9050, or visit Levin Law’s website at www.levinlawpa.com. You can reach managing partner Brian Levin directly at email@example.com, who can help you determine if you are able to recover losses through a Financial Industry Regulatory Authority (“FINRA”) arbitration or through a class action lawsuit. Most cases are accepted on a contingency-fee basis, meaning that clients do not pay attorney fees unless money is recovered on their behalf.
Levin Law is a premier national securities and commodities lawsuit and class action law firm. Brian Levin, Levin Law’s managing attorney, has obtained settlements and recoveries in excess of $100,000,000 in assets through 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.