Aztec XII-A Oil & Gas LP Investment Losses
Did you lose money investing in Aztec XII-A Oil & Gas LP at the recommendation of your broker? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
The White Law Group has represented a number of investors in claims involving broker-dealers improperly recommending that investors invest in speculative oil and gas partnerships like Aztec XII-A Oil & Gas LP.
Many oil and gas LPs have high expense ratios, and due to the decline in the overall health of the oil and gas market, are suffering. Some are on the brink of default, or worse yet, bankruptcy. Such an outcome is extreme, but not unforeseen. It only highlights the unsuitability of these investments for most retail investors – particularly in large concentrations.
According to a press release, on December 30, 2011 Aztec Oil & Gas, Inc. closed the Aztec XII-A Oil & Gas LP, which was opened on September 1, 2011. The Aztec XII-A Oil & Gas LP closed with approximately $8.2 million of funding and is focused primarily on drilling shallow oil wells in Texas. Aztec’s wholly-owned subsidiary, Aztec Energy, LLC, gained thirty percent (30%) ownership interest in the Partnership.
Unfortunately for investors in Aztec XII-A Oil & Gas LP, Aztec Energy LLC recently filed for bankruptcy with $500,000 debt.
Due to the high degree of risk associated with oil and gas partnerships, like Aztec XII-A Oil & Gas LP, they are generally more appropriate for sophisticated and institutional investors. Unfortunately, because of the high commissions these products generally pay to brokers, they are often sold to unsophisticated and retired investors.
Brokerage firms have a fiduciary duty to perform adequate due diligence. They must determine if an investment is appropriate for a particular client given the client’s age, net-worth, financial objectives, investment experiences, financial needs, and risk tolerance. If a brokerage firm makes unsuitable investment recommendations or fails to adequately disclose the risks associated with an investment they may be liable for investment losses.
If you would like to speak with a securities attorney regarding your ability to recover investment losses in Aztec XII-A Oil & Gas LP, please call The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, please visit our website at www.WhiteSecuritiesLaw.com.