Concerned about your investment in Ultra Petroleum Corp.?
Are you concerned about your investment in Ultra Petroleum Corp. (UPLC)? 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.
Ultra Petroleum Corp. reportedly engages in the development, production, operation, exploration, and acquisition of oil and natural gas properties. It focuses on developing a tight gas sand trend located in the Green River Basin of southwest Wyoming; and assessing, exploring, and developing its position in the Marcellus Shale and other horizons located in the north-central Pennsylvania area of the Appalachian Basin of Pennsylvania.
The company, based in Houston, TX, reportedly filed for Chapter 11 bankruptcy protection on May 14, 2020, with a restructuring plan that will reportedly eliminate ~$2B in debt from its balance sheet, according to reports. This is the second bankruptcy filing for UPLC in the past four years.
Unfortunately, there will be no recovery for UPLC shareholders. Shares will be cancelled on the plan’s effective date, but shares are expected to still trade until the effective date with no payment for releases.
Ultra Petroleum Corp.’s stock is down -97.36% in the past 12 months, according to Market Share.
Investigating Potential Securities Claims
Energy investments such as Ultra Petroleum Corp. 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.
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly selling high-risk energy investments, like Ultra Petroleum Corp., 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 Ultra Petroleum Corp., 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.