Amazing Energy Oil & Gas Files Chapter 11 for 3 Subsidiaries
Concerned about your investment in Amazing Energy Oil & Gas?
Are you concerned about your investment in Amazing Energy Oil & Gas? 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.
On April 6, 2020, Amazing Energy Oil & Gas, Co. reportedly filed Chapter 11 Bankruptcy petitions, in the Southern District of Mississippi, for three of its wholly owned subsidiaries. Those three subsidiaries placed into Bankruptcy are: Amazing Energy, LLC , Amazing Energy Holdings, LLC and Amazing Energy MS, LLC. These subsidiaries are the entities that own and operate the Company’s holdings in Texas, New Mexico and Mississippi. The Company itself has not filed for Bankruptcy protection in any jurisdiction.
According to SEC filings, the company filed a form D to raise capital from investors for the offering Amazing Energy Partners 2016 LP. The offering type was equity and the total offering amount was purportedly $50,000,000. The sales compensation recipients were purportedly Capital Investment Group and Colorado Financial Service Corporation.
Energy investments such as Amazing Energy Oil & Gas typically involve a high degree of risk. The energy market has seen enormous losses over the last few years due to the declining cost of oil and other energy commodities. These investments may seem wise at first, until the dramatic drop in distributions.
Investigating Potential Securities Claims
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly selling high-risk energy investments, like Amazing Energy Oil & Gas, to their clients.
Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Recommendations should only be made if the investment is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance.
Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through FINRA arbitration.
If you are concerned about your investment in Amazing Energy Oil & Gas, The White Law Group may be able to help. Please call the offices at 888-637-5510 for a free consultation with a securities attorney.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, please visit https://www.whitesecuritieslaw.com.