Investor Alert – Radiant Oil & Gas – SEC Suspends Trading
Are you concerned about your investment in Radiant Oil & Gas? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Radiant Oil and Gas Inc. is a Publicly Traded Company on the OTC Market specializing in acquiring and redeveloping long lived conventional onshore fields along the U.S. Gulf Coast, according to its website.
According to a press announcement, The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the company’s securities, commencing at 9:30 a.m. EDT on May 25, 2018.
The Commission temporarily suspended trading due to a lack of current and accurate information about the Radiant Oil & Gas because they have not filed certain periodic reports with the Commission.
According to SEC filings, Radiant Oil & Gas filed a Form D to raise capital from investors in 2010 in Houston, TX. The total offering amount was $2,000,000.
Investments such as these are typically sold by brokerage firms in exchange for a large up front commission. High fees can range from 7-10%, as well as additional “due diligence fees” that can range from 1-3%. In this case, sales commissions of 8% were paid on the investment, according to the Form D.
The problem with private placement investments such as Radiant Oil & Gas is that they typically involve a high degree of risk. They are also often sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.
Investigating Potential Claims
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk private placements, like Radiant Oil & Gas to investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim.
If you have concerns regarding your investment in Radiant Oil & Gas and would like to speak with a securities attorney about your options, please call 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 on The White Law Group and its representation of investors in FINRA arbitration claims, visithttp://www.whitesecuritieslaw.com.