Notice to Brokerage Firm Customers Who Purchased Linn Energy and Other Oil and Gas Investments – Silver Law Group and Law Firm of David R. Chase, P.A. Investigation
Boca Raton, Florida – April 14, 2016 (GLOBE NEWSWIRE) – Silver Law Group and the Law Firm of David R. Chase, P.A. continue to investigate stockbrokers’ and brokerage firms’ unsuitable recommendations to purchase Linn Energy (“LINE”) and other oil and gas investments, including master limited partnership (MLPs).
Despite drastic drops in the price of oil and corresponding drops in companies whose business revolves entirely around the commodity, many brokers and their employing brokerage firms continued to recommend purchasing these risky and speculative investments in 2014 and 2015. Some of the firms which maintained coverage of Linn Energy include Raymond James, RBC Capital Markets and Stifel Financial Corp.
Oil prices began its precipitous descent in 2014. With the commodity’s descent in price, many companies whose business depended on its high prices have seen their values plummet right along with oil. There has been speculation and warnings that some of these companies and MLPs, including Sandridge, Linn Energy and Chesapeake Energy, will declare bankruptcy due to the volatile market and industry. Recently, on April 13, 2016, the United States’ largest coal company, Peabody Energy Corp. filed for Chapter 11 bankruptcy after posting four consecutive yearly losses, including a $2 billion loss in 2015.
Many brokers solicited investors to invest in these high yield stocks and bonds, improperly recommending master limited partnerships (“MLPs”), bonds, private placements, stocks, and other oil and gas securities to conservative investors based upon the high yields of these investments rather than the risk to principal. Investor claims frequently focus on brokers negligence to conduct due diligence and investigate these investments and negligently recommended them to customers frequently on a concentrated basis.
Silver Law Group and the Law Firm of David R. Chase, PA, focus their practice on the representation of investment fraud victims in claims against securities brokerage firms. Scott L. Silver, managing partner of the Silver Law Group, has devoted his legal career to representing aggrieved investors. David R. Chase, principal of the Law Firm of David R. Chase, PA., is a former SEC Prosecutor. Our lawyers have collectively represented hundreds of investors in FINRA or securities arbitration claims and recovered millions of dollars from large and regional brokerage firms.
For more information about the firms, their lawyers and their oil and gas investment practice area, please visit the firms’ oil and gas investment website at: www.oilgasfinraarbitration.com. You can also visit the firms’ respective websites at: www.silverlaw.com (Silver Law Group) or www.davidchaselaw.com (Law Firm of David R. Chase, PA). You may contact toll-free either Mr. Silver at: (800) 975-4345 or Mr. Chase at: (800) 760-0912 for a confidential, no cost consultation on the potential for recovery of your investment losses. Our attorneys represent clients nationwide in securities cases to recover investment losses.