October 10, 2016 Comments (0) Current Investigations

Emerald Oil Suspends Filing Regular Periodic Reports

(Last Updated On: November 10, 2016)

Have you suffered losses in Emerald Oil, Inc.? If so, the securities attorneys of The White Law Group may be able to help.

Emerald Oil, Inc. is an independent exploration and production operator that is focused on acquiring acreage and developing wells in the Williston Basin of North Dakota and Montana, targeting the Bakken and Three Forks shale oil formations and Pronghorn sand oil formation. Emerald is based in Denver, Colorado, according to their website.

As we told you in March (Investor Alert: Emerald Oil, Inc. Files Chapter 11 Bankruptcy Protection), like many other exploration and production companies, Emerald’s operations have been significantly impacted by the dramatic drop in oil prices, and the general uncertainty in the energy markets.

According to an SEC filing in September, Emerald Oil has suspended the filing of its regular periodic reports on Form 10-K and Form 10-Q with the SEC. The company, however, intends to furnish copies of the Monthly Operating Report that is required to be submitted to the Bankruptcy Court under cover of Current Reports on Form 8-K and to continue to file Forms 8-K disclosing material developments concerning the Company.

In 2011, Emerald Oil filed a form D under the name Voyager Oil and Gas.  An unfortunate by-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.

Another problem with alternative investment products, like Emerald Oil, 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 these type of 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.

If you have suffered losses with your investment in Emerald Oil, Inc. 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.