April 3, 2018 Comments (0) Blog, Current Investigations

EV Energy Partners files Chapter 11 Bankruptcy Protection

EV Energy Partners
(Last Updated On: April 3, 2018)

Investigating Potential Claims – EV Energy Partners

Have you suffered losses investing in EV Energy Partners?  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.

EV Energy Partners is an upstream master limited partnership (MLP) focused on generating distributions to its unitholders through the acquisition, operation, and development of oil and gas properties.

Crude oil prices have crashed since 2014, bringing the Energy Sector down with it. In 2016, we told you that EV Energy partners had $665.8 million in total outstanding debt. With a decline in the earnings, their leverage was high.

Now more bad news for investors, according to reports EV Energy Partners LP, has filed for Chapter 11 bankruptcy protection on April 2.

EV Energy Partners had current liabilities of $654 million and total current assets of $61.4 million in 2017, according to its latest filing. Parent firm EnerVest and its EnerVest Operating unit will not file for bankruptcy, according to EV Energy.

EV Energy’s shares were down about 9 percent in aftermarket trading.

The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended EV Energy Partners bonds to investors.

Brokerage firms that sell energy investments are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success. They must evaluate whether the investments are suitable in light of the client’s age, net worth, investment experience, 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.

Free Consultation with a Securities Attorney

If you suffered losses investing in EV Energy Partners the securities attorneys at The White Law Group may be able to help you recover your losses. If you would like a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.

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.

For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.