Ascent Resources Investment Losses
Have you suffered losses investing in Ascent Resources? If so, the attorneys at The White Law Group may be able to help.
According to their website, Ascent Resources is a leading independent energy company focused on acquiring, developing, and producing natural gas and oil in the prolific Appalachian Basin..
We recently told you about how American Energy Partners (AEP) laid off 100 workers and then shut down in May 2016, according to reports. For more information on The White Law Group’s investigation of American Energy Partners, go here.
The five independent firms it created are Ascent Resources, Heritage Resource Management, Permian Resources, Traverse Midstream and Whitestar Energy and continue to operate.
According to Marcellus Drilling Reports, Ascent Resources is currently in talks with creditors to restructure some $1.2 billion worth of loans and debt. Restructure doesn’t always mean bankruptcy, however, the latest trend in the oil and gas industry has been to work out bankruptcy deals ahead of time before filing, called a “prepackaged bankruptcy”. Either way it appears this is bad news for investors.
The White Law Group is investigating the liability that broker-dealers and financial professionals may have for improperly recommending Ascent Resources to its clients.
Brokerage firms and financial advisors have a fiduciary duty to perform adequate due diligence on any investment they recommend and to ensure that such recommendations are appropriate for their client in light of that particular clients’ age, income, investment experience, investment objectives, and net worth.
Recovery of Investment Losses
If you suffered losses investing in Ascent Resources, please call the securities attorneys of The White Law Group at (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. The firm represents investors throughout the country in claims against their brokerage firm.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.