Legacy Reserves LP Investment Losses
Have you suffered losses investing in Legacy Reserves LP MLP? If so, the securities attorneys of The White Law Group may be able to help.
Legacy Reserves LP (Legacy) is a master limited partnership company focused on the acquisition and development of oil and natural gas properties located in the Permian Basin, Rocky Mountain and Mid-Continent regions of the United States.
A Master Limited Partnership (MLP) is a type of limited partnership that is publicly traded. MLP’s receive the same tax benefits of a limited partnership combined with the liquidity of a publically traded security. In order to be classified as an MLP the partnership must receive 90% of its cash flow from a “qualifying source” – such as real estate, natural resources or commodities.
MLP’s are extremely complex and risky. They are only suitable for wealthy, sophisticated retail investors or institutional investors.
Last week, Legacy Reserve LP was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors. Shares traded down 5.62% during midday trading on Wednesday, reaching $1.68. The company had a trading volume of 414,313 shares. Legacy Reserves has a 52 week low of $0.61 and a 52 week high of $7.78.
According to Legacy Reserve’s quarterly earnings data on Wednesday, August 3rd, the business’s revenue was down 16.4% compared to the same quarter last year. On average, equities research analysts predict that Legacy Reserves will post $0.31 earnings per share for the current fiscal year.
The White Law Group continues to investigate the liability that brokerage firms may have for recommending oil and gas MLPs like Legacy Reserve LP.
Brokerage firms that sell such products are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to 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.
Recovery of Investment Losses
If you suffered losses investing in Legacy Reserves LP or another MLP and would like a free consultation with a securities attorney, please call The White Law Group at 1-888-637-5510.
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 www.whitesecuritieslaw.com.