Diamond Offshore Drilling (DO) – Files Chapter 11 Bankruptcy Protection
Have you suffered losses investing in Diamond Offshore Drilling (DO)? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Dispute Resolution.
According to various reports, Diamond Offshore Drilling voluntarily filed for bankruptcy protection on Sunday, just before oil prices plunged another 25%. Over the past five years, Diamond has reportedly incurred total losses of $1.2 billion and including $357 million in 2019, almost double the figure from the prior year, according to reports.
Diamond became the second major U.S. oil firm to collapse, after Whiting Petroleum filed for bankruptcy earlier this month.
Unfortunately for investors, securities markets have taken a huge hit amidst the Covid-19 global pandemic, and oil prices are at an all-time low. According to Market Watch today, the company’s share price has declined -86.95% YTD.
Investigating Potential Claims
The White Law Group is investigating potential claims involving broker dealers who may have improperly recommended Diamond Offshore Drilling stock to investors.
Broker dealers that are required to perform adequate due diligence on all investment recommendations. They must 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.
Fortunately, FINRA does provide for an arbitration forum for investors to resolve disputes. 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.
If you are concerned about your investment in Diamond Offshore Drilling, 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.