Have you suffered losses investing in a QuickSilver Resources? 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.
QuickSilver Resources is an independent oil and natural gas company based in Fort Worth, Texas. The company engages in the exploration, development and production of oil and natural gas from properties located onshore in the United States.
The deflated energy prices has raised havoc for many companies, including QuickSilver Resources. In March, QuickSilver Resources filed for chapter 11 bankruptcy.
According to Bloomberg Business, the bankruptcy petition followed a February Waring that QuickSilver Resources would not pay interest on $298 million of bonds maturing in 2019. In addition to the 2019 notes, Bloomberg’s reported, the company also has $350 million in notes due 2016, $325 million in notes due 2021, and $200 million in notes due 2019, according to the filing.
Unfortunately, many investors were not made adequately aware of the risks associated with energy investments. Oil and gas investments are generally speculative and very high risk ventures. They are arguable better suited for sophisticated and institutional investors that can afford total loss of their investment. Even bonds in the oil and gas industry, which many investors think of as “safe,” are not without risk.
Before recommending an investment, your broker has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor. Unfortunately, brokers sometimes fail to perform the necessary due diligence prior to recommending them to their clients.
The White Law Group is specifically looking at the following QuickSilver Resources investments:
- Quicksilver Resources Second Lien Term Loan
- Quicksilver Resources Second Lien Notes due 2019
- Quicksilver Resources Senior Notes due 2015 8.25%
- Quicksilver Resources Senior Notes due 2016 11.75%
- Quicksilver Resources Senior Notes due 2019 9.125%
- Quicksilver Resources Senior Notes due 2021 11%
- Quicksilver Resources Senior Subordinates Notes due 2016 7.125%
To determine whether you may be able to recover investment losses incurred in QuickSilver Resources please contact The White Law Group at 312-238-9650.
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.