Concerned about investment losses in Vista Drilling Program 2011-1?
Did you lose money investing in Vista Drilling Program 2011-1 LP at the advice of your financial advisor? 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.
Vista Resources, Inc. is an independent oil and natural gas company headquartered in Pittsburgh, Pennsylvania. The company and its subsidiaries are engaged in oil and natural gas exploration, development, production and marketing.
Many oil and gas LPs have high expense ratios, and due to the decline in the overall health of the oil and gas market, are suffering. Some are on the brink of default, or worse yet, bankruptcy. Such an outcome is extreme, but not unforeseen. It only highlights the unsuitability of these investments for most retail investors – particularly in large concentrations.
Vista Resources has sponsored many drilling programs such as Vista Drilling Program 2011-1 LP, in order to raise capital from investors.
The Risks of Oil and Gas LPs
Oil and gas LPs such as Vista Drilling Program 2011-1 LP, involve a high degree of risk and are typically sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.
Broker dealers are required to perform adequate due diligence on all investment recommendations to ensure that each investment recommendation that is made is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
Oil and gas LPs such as those in the Vista Drilling Programs 2011-1 LP typically have high sales commissions and due diligence fees. This can provide brokers with an enormous incentive to push the product to unsuspecting investors. Brokers may even focus on the income potential and tax benefits while downplaying the risks. Another problem is that these type of investments are illiquid, and cannot be sold on the market.
Investigating Potential Claims
The White Law Group is investigating the liability that broker dealers may have for unsuitably recommending private placement investments like Vista Drilling Program 2011-1 LP to investors.
Fortunately, FINRA does provide for an arbitration forum for investors to resolve such disputes and 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 found liable for investment losses in a FINRA arbitration claim.
Have you suffered investment losses incurred as a result of your purchase of Vista Drilling Program 2011-1 LP or another Vista offering? Please contact the securities attorneys at 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. The firm represents investors throughout the country in claims against their brokerage firm.
For more information on the firm and its representation of investors, visit www.WhiteSecuritiesLaw.com.