Have you suffered losses investing in New Source Energy Partners L.P. 11% Series A Cumulative Convertible Preferred Units? 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.
New Source Energy Partners (NYSE: NSLP) is an independent energy company with operations concentrated in east-central Oklahoma. According to a 2014 prospectus, the company intended to apply to have 11% Series A Cumulative Convertible Preferred Units listed on the New York Stock Exchange under the symbol “NSLP PRA”. Unfortunately for investors, it appears that on December 31, 2015, New Source Energy Partners filed (Form 25) to withdraw the exchange listing of the 11% Series A Cumulative Convertible Preferred Units.
Convertible notes, like the 11% Series A Cumulative Convertible Preferred Units, are typically debt instruments created by investment sponsors that are linked to other assets, such as a stock, which is in turn linked to an asset or assets. Such investments are extremely complex and are only appropriate for sophisticated investors capable of understanding the investments’ complexity and risks.
Brokers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor and are in line with the client’s risk tolerance, age, net worth, and investment experience.
If a broker makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment, both the broker and the brokerage firm may be liable for investment losses through FINRA arbitration.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of New Source Energy Partners L.P. 11% Series A Cumulative Convertible Preferred Units, please contact The White Law Group at 1-888-637-5510 for a free consultation.
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 firm, visit www.WhiteSecuritiesLaw.com.