Have you suffered investment losses in Reef 2009 Drilling Fund LP? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
According to their website, Reef is an oil and gas company and Reef sponsored entities currently own an interest in approximately 3,000 wells in the United States. The companies activities are apparently located in 15 states with the core areas concentrated in the Bakken-Three Forks formations in North Dakota, the Permian Basin in West Texas and the Mid-continent.. The company often raises money for investments through Reg D private placement offerings like the company did for Reef 2009 Drilling Fund LP. These Reg D private placements are then typically sold by brokerage firms in exchange for a large up front commission, usually between 7-10%.
The trouble with alternative investment products, like Reef 2009 Drilling Fund LP, is that they involve a high degree of risk and are typically sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks and bonds. An additional risk inherent to Reef Oil and Gas offerings is also the general risk that comes with the energy market – a market that has seen enormous losses over the last few years.
Broker dealers that sell alternative investments are required to perform adequate due diligence on all investment recommendations to ensure that each investment is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
However, another unfortunate bi-product of Reg D private placements is that the high sales commission brokers earn for selling such products may provide some brokers with enough incentive to push the product to unsuspecting investors who do not fully understand the risks of these types of products. The White Law Group has represented a number of investors who have suffered losses investing in Reef Oil and Gas private placement investments.
If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Reef 2009 Drilling Fund LP or another Reef Oil and Gas private placement investment, please contact The White Law Group at 1-888-637-5510 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. For more information on the firm, visit www.WhiteSecuritiesLaw.com.