May 1, 2016 Comments (0) Blog

Investor Alert: Ultra Petroleum Bonds

(Last Updated On: August 30, 2016)

Have you suffered losses investing in Ultra Petroleum Bonds? If so, the attorneys at The White Law Group may be able to help you recover your losses with a FINRA arbitration claim against the brokerage firm that recommended the bonds to you.

Ultra Petroleum Corp. filed for bankruptcy protection, the latest oil and gas explorer to fall victim to the prolonged slump in energy prices.

Ultra listed $1.3 billion in assets and $3.9 billion in debt in court papers filed in Houston on May 1st. The Houston-based company has 159 employees and its main assets are gas-producing properties in Wyoming, as well as some assets in Pennsylvania and crude oil properties in Utah, according to court papers.

Between March and early April, Ultra missed a series of principal and interest payments owed to lenders and bondholders. And on April 14th, the company was sued by pipeline operator Sempra Rockies Marketing LLC for failing to pay transport fees.

High-yield bonds—also called non-investment-grade bonds, speculative-grade bonds, or junk bonds—are bonds that are rated below investment grade, typically ‘BB’ or lower by Standard & Poor’s and ‘Ba’ or lower by Moody’s. They pay high yields to bondholders because the borrowers credit ratings are less than pristine, making it difficult for them to acquire capital at an inexpensive cost. Junk bonds carry an above average risk that the issuer will default on the bond. The increased risk makes them arguably unsuitable for many investors.

If you have lost money investing in the following Ultra Petroleum offerings, then The White Law Group may be able to help:

Ultra Petroleum 6.125% 10-1-2024

Ultra Petroleum 5.75% 12-15-2018

Ultra Petroleum 144A 5.75% 12-15-2018

Brokerage-firms and investment adviser are required to make investment recommendations that are suitable for their clients in light of their clients particular investment situation – net worth, investment objectives, income, and investment experience. Brokerage firms or advisors who sell junk bonds to unsuitable investors or fail to adequately disclose the risks of the investments can be held accountable for losses suffered through a FINRA arbitration claim.

If you have concerns regarding your investment in Ultra Petroleum bonds and would like to speak with a securities attorney about your litigation options, please call The White Law Group at (888) 637-5510 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

To learn more about The White Law Group visit www.whitesecuritieslaw.com.