$950,000 recovery from brokerage firm that negligently approved a fraudulent investment product for sale to customers and negligently supervised its broker.
Have you sustained significant financial losses in oil, gas, and energy investments? Energy company securities and other energy-related investments have often been sold as safe income-producing investments. Brokers and financial advisors often tout them as producing significant income but having little to no risk. Thousands of investors, many of them retirees, believe those misrepresentations and have invested in such risky oil, gas, and energy investments.
Recently, oil, gas, and energy stocks and master limited partnerships have suffered catastrophic declines in value and proved to be far riskier than how financial advisors described them. Many investors have lost their hard-earned savings as a result. If you are an investor who has suffered significant losses in the oil, gas, energy, or master limited partnership (MLP) investments, contact our Miami investment fraud lawyers at Levin Law. We will provide aggressive legal representation to help you seek rightful compensation for your losses.
Many different scenarios of broker misconduct exist which may have led to your investment losses. The following are some examples of dishonest, careless, or purely self-interested activity that may be cause for legal action.
Brokers who fail to fully understand and convey the materials facts and risks concerning energy securities may be guilty of negligence breach of fiduciary duty, or fraud. This is likely due to the extremely complex nature of the energy market. Brokers who fail to do their homework and make unsuitable recommendations to clients often cause unnecessary losses in their clients’ accounts.
Overconcentration in the energy market is another cause of severe financial losses. Investors, especially retirees, whose brokers have invested the majority of their portfolio into energy stocks may have suffered significant financial losses. Overconcentration is unsuitably risky for most investors.
Unsuitability involves a financial advisor recommending and selling investments to clients that are inconsistent with that investor’s investment objectives. Brokers are obligated to recommend investments that align with an investor’s financial needs, goals, and risk tolerance. In the case of the volatile energy market, these investments are not suitable for many.
Other types of broker misconduct that may result in energy investment losses include misrepresentation, omission of material facts, and other types of fraud.
Levin Law is investigating oil, gas, energy, and master limited partnership claims involving all brokerage firms, including:
Your financial losses in oil, gas, and energy may be compensable due to wrongdoing on the part of your brokerage firm, financial advisor, stockbroker, investment advisor, or bank. Our law firm is dedicated to helping defrauded investors in the United States and abroad recover investment losses caused by a financial institution’s wrongdoing. We will provide you with a free case evaluation and determine the best way to seek justice on your behalf.
Contact a Miami securities fraud attorney at (305) 402-9050 today. We look forward to speaking with you to determine your options through a free case evaluation.