Have you suffered losses investing in Swift Energy Co.’s (“Swift Energy”) bonds? 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.
Swift Energy defaulted on its semi-annual interest payment of $8.9 million on its 7.125% Senior Notes due 2017. The outstanding principal on that issue is approximately $250 million. The company’s two other issues, 7.875% Senior Notes due 2022 and 8.875% Senior Notes due 2020, could be at risk as well. Swift Energy has approximately $1.2 billion in debt and approximately $1.02 billion in assets.
Swift Energy is currently in negotiations with a group of its senior noteholders regarding potentially restructuring those notes and other possible options to increase its near-term liquidity. No understanding between Swift Energy and the noteholders has been reached to date.
The White Law Group is investigating the liability brokerage firms may have for recommending Swift Energy bonds. Brokerage firms are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor in light of that particular investor’s age, investment experience, net worth, risk tolerance, investment objectives, and income. Firms that fail to perform adequate due diligence or that make unsuitable recommendations can be held responsible for investment losses in a FINRA arbitration claim.
If you suffered losses in Swift Energy bonds and would like to discuss your litigation options, please call the securities attorneys of 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 Vero Beach, Florida. The firm represents investors in FINRA arbitration claims throughout the country. For more information on the firm, visit http://www.whitesecuritieslaw.com.
Swift Energy’s Outstanding Issues:
Swift Energy, 7.125% 1jun2017 (US870738AF81, 870738AF8)
Swift Energy, 7.875% 01mar2022 (US870738AK76, 870738AK7)
Swift Energy, 8.875% 15jan2020, USD (US870738AG64, 870738AG6)