Have you suffered significant losses as a result of your investment with Bre-X Minerals LTD? If so the White Law Group may be able to help.
According to the Calgary Herald, a judge in Alberta, Canada approved a $5.2 million dollar agreement to make payments to Bre-X Minerals investors as part of a class action suit. Bre-X reportedly scammed billions from investors in the late 90’s after making claims that the company had found an enormous gold deposit in Indonesia.
According to the Securities and Exchange Commission (SEC) Fidelity Management & Research (a/k/a Fidelity Investments) acquired beneficial ownership of the Bre-X Minerals in 1997. The SEC suspended trading of the company (NYS: BXMNF) in 2010 for failure to file necessary reports.
The White Law Group is investigating potential claims against the broker dealers that sold Bre-X Minerals. Broker-dealers have a fiduciary duty to conduct a reasonable investigation into the investment, including the sponsor. Additionally, they must perform adequate due diligence to ensure that the investment has a reasonable likelihood of success. When broker dealers that fail to uphold their fiduciary duty or misrepresent an investment they may be liable for investment losses.
If you invested in Bre-X minerals through a broker-dealer after 2007 and would like to discuss your litigation options, please call The White Law Group at (312)238-9650 for a free consultation
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.