Jeffrey Glusman, a former financial advisor in Merrill Lynch's Fort Lauderdale, Florida, office, has been discharged by the firm. According...Read More
Oil, Gas, and Energy
Securities fraud is common in oil, gas, and energy investments. Many of the securities offered are private securities. The Securities and Exchange Commission on average brings over 20 cases of fraud per year involving these types of investments. Many of the investments are pitched with the chance of “striking it rich” and are related to exploration, drilling, or refining of oil or gas.
Some energy companies may not be fraudulent, but are still very risky. Swings in oil and energy prices can cause these companies to lose substantial value or even go into bankruptcy. For instance, when oil prices collapsed around August of 2014, many oil and gas companies went bankrupt. Some oil & gas investments are issued as junk bonds. Investors need to be aware of the unique risks of investing in junk bonds.
Financial advisors should only recommend suitable oil, gas and energy investments and should be careful not to over-concentrate investors’ portfolios in this sector.
We have represented investors across the country who were sold unsuitable oil & gas investments and where portfolios were over-concentrated in the oil & gas sector. Please contact us for a free and confidential case evaluation if you believe that you have lost money due to investing in oil, gas, or energy companies.