Investor Alert – Spirit of America Energy Fund
Are you concerned about your investment in Spirit of America Energy Fund? 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.
Spirit of America Energy Fund (SOAEX) was launched in July 2014, as part of a group of mutual funds based in Syosset, NY and invested 80% of its assets in several aspects of the oil and gas industry. The Fund sought to provide shareholders with long-term capital appreciation and current income. Unfortunately for investors, SOAEX has lost approximately 50% of its value.
Investigating Potential Claims
The White Law Group continues to investigate potential claims involving Spirit of America Energy Fund.
Brokerage firms are required to perform due diligence on any offering they recommend. They must ensure that all recommendations made are suitable in light of the client’s age, investment experience, net worth, income, and investment objectives.
If a firm fails to perform due diligence or makes an unsuitable recommendation, the broker-dealer can be held responsible for any losses in a FINRA Arbitration claim.
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.
If you are concerned about your investment in Spirit of America Energy Fund the securities attorneys at The White Law Group may be able to help you. For a free consultation to discuss your options, please call the offices of 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.