Penneco Drilling Associates 2013-1 Investment Losses
Have you suffered investment losses in Penneco Drilling Associates 2013-1? If so, The White Law Group may be able to help you to recover your losses by filing a FINRA arbitration claim against the brokerage firm that sold you the investment.
Penneco Drilling Associates is an oil and gas private placement sponsored by Penneco Oil Company, based in Delmont, Pennsylvania. The company operates hundreds of oil and gas wells in the Appalachian Basin.
Many oil and gas LPs have high expense ratios, and due to the decline in the overall health of the oil and gas market, are suffering. Some are on the brink of default, or worse yet, bankruptcy. Such an outcome is extreme, but not unforeseen. It only highlights the unsuitability of these investments for most retail investors – particularly in large concentrations.
For many investors, the recent decline in gas prices may be cause for concern. Oil and gas investments involve substantial risks and are only appropriate for sophisticated investors. The White Law Group is investigating the liability that brokerage firms may have for selling Mewbourne Energy Partners limited partnership interests.
Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor. Unfortunately, the high commissions associated with oil and gas partnerships often provides broker-dealers with enough incentive to overlook FINRA suitability and due diligence requirements
Recovery of Investment Losses
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Penneco Drilling Associates, please contact The White Law Group at 888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, please visit our website at www.WhiteSecuritiesLaw.com.