January 6, 2019 Comments (0) Blog

Parker Drilling Co. Files Chapter 11

Parker Drilling Company

Parker Drilling Company  – Securities investigation

Are you concerned about your investment in Parker Drilling Company? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.

The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended Parker Drilling Company to investors.

On December 14, 2018, Parker Drilling announced that it and its material U.S. subsidiaries have entered into a restructuring support agreement (RSA) with holders of the company’s securities, including a significant amount of its 7.5% senior notes due 2020 and 6.75% senior notes due 2022, outstanding preferred stock and outstanding common stock.

The problem with oil & gas investments such as Parker Drilling Company is that they typically involve a high degree of risk especially since the energy market has seen huge losses since 2014.

Brokerage firms are required to perform due diligence on any offering they recommend and to ensure that all recommendations made are suitable in light of the client’s age, investment experience, net worth, income, and investment objectives.

If a firm fails to perform due diligence or makes an unsuitable recommendation, the broker-dealer can be held responsible for any losses in a FINRA arbitration claim.

FINRA can help resolve problems and disputes through two non-judicial proceedings: arbitration and mediation. FINRA’s Dispute Resolution forum handles nearly all of the securities-related arbitrations and mediations in the United States.

Free Consultation with a Securities Attorney

If you are concerned about your investment in Parker Drilling Company 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. 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.