Have you suffered losses investing in a BPZ Resources? If so, the securities attorneys of The White Law Group may be able to help you recover your losses in a FINRA arbitration claim against the brokerage firm that recommended the investment.
BPZ Resources is an independent oil and gas exploration and production company with license contracts in offshore and onshore Peru.
The deflated energy prices has caused havoc for many companies, including BPZ Resources. In March, BPZ Resources filed for chapter 11 bankruptcy.
According to The Wall Street Journal,”The company listed assets of $364 million and debts of $275 million in its bankruptcy petition filed with the U.S. Bankruptcy Court in Victoria, Texas.”
Unfortunately, many investors were not made adequately aware of the risks associated with energy investments. Oil and gas investments are generally speculative and very high risk ventures. They are arguable better suited for sophisticated and institutional investors that can afford total loss of their investment. Even bonds in the oil and gas industry, which many investors think of as “safe,” are not without risk.
Before recommending an investment, your broker 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, brokers sometimes fail to perform the necessary due diligence prior to recommending them to their clients.
To determine whether you may be able to recover investment losses incurred in BPZ Resources please contact The White Law Group at 888-637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.