Bonanza Creek Energy Investment Losses
Have you suffered investment losses in Bonanza Creek Energy? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
Oil and gas producer Bonanza Creek Energy said it would file for bankruptcy on or before Jan. 5, joining a long list of energy companies that have been hit hard by low oil prices.
The Denver-based company said bondholders would eliminate $850 million in debt and that some would provide $200 million in new equity.
Bonanza Creek’s shares were down 47.5 percent at $1.01 before the opening bell on Friday.
Global oil prices have dropped more than 50 percent since mid-2014, dampening cash flows of oil producers and hurting their ability to meet debt and interest payments.
Broker dealers are required to perform adequate due diligence on all investment recommendations to ensure that each investment is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses.
Recovery of Investment Losses
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Dakota Plains Holdings or another oil and gas investment, please contact The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information on the firm, visit www.WhiteSecuritiesLaw.com.