Have you suffered losses investing in Arch Coal, Inc.? 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: U.S.-based Arch Coal is a leading coal producer and marketer, with 128 million tons of coal sold in 2015. Their core business is supplying cleaner-burning, low-sulfur thermal and metallurgical coal to power generators and steel manufacturers. Arch represents over 13% of America’s coal supply from the active mining complexes in Wyoming, Colorado, Illinois, West Virginia, Kentucky and Virginia.
On January 11, 2016, Arch Coal elected to file for reorganization under Chapter 11 of the Bankruptcy Code. Investors in Arch Coal’s common stock are now holding shares that closed at $0.15 on January 14, 2016, down from a 52-week high of $14.30—a 98.95% loss.
According to a press release in early July, Arch Coal, Inc. has secured a global settlement with certain of its senior secured lenders that hold more than 66 2/3% of its first lien term loan and the Official Committee of Unsecured Creditors (the “UCC”). The company has filed an amended Plan of Reorganization (the “Plan”) that incorporates and implements the global settlement and a related Disclosure Statement with the United States Bankruptcy Court for the Eastern District of Missouri.
The White Law Group continues to investigate the liability that brokerage firms and financial advisors may have for recommending high risk energy investments, like Arch Coal, to their clients.
Brokerage firms that recommend energy investments are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to evaluate whether the investments are suitable in light of their client’s age, net worth, investment experience, risk tolerance, and investment objectives. Firms that fail to perform adequate due diligence, or that make unsuitable recommendations, can be held responsible for losses in a FINRA arbitration claim.
If you suffered losses investing Arch Coal or another energy investment and would like to discuss your litigation options, please call The White Law Group at (888) 637-5510 for a free consultation.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.