June 30, 2016 Comments (0) Blog, Current Investigations

Investor Alert: Triangle USA Petroleum

(Last Updated On: March 31, 2017)

Have you suffered losses investing in Triangle USA Petroleum  6.75% 15 July 2022 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.

According to Bloomberg, in June 2016 Triangle USA Petroleum Corp., an oil and gas explorer working one of the largest shale oil reservoirs in North America, filed for bankruptcy with a plan to restructure that will keep its parent company out of Chapter 11.

Triangle USA is active in the North Dakota and Montana regions of the Williston Basin, where it uses horizontal drilling and hydraulic fracturing. The company and its affiliates fell victim to the price slump that began in 2014, and bankruptcy proceedings were started “with the objective of realigning their capital structure with new market realities,” Chief Restructuring Officer John Castellano said in papers in Delaware federal court.

After several months of negotiations, the company reached an agreement with holders of 73 percent of its senior unsecured notes and plans to get out of bankruptcy by converting the debt into equity in a new, restructured business, according to reports.

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 Triangle USA Petroleum Bonds 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. For more information about The White Law Group, please visit www.whitesecuritieslaw.com.