Petroquest Energy Inc. , Investigating Potential Claims
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly selling high-risk oil and gas investments, like Petroquest Energy Inc., to its clients.
PetroQuest Energy, Inc. is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, East Texas, South Louisiana and the shallow waters of the Gulf of Mexico.
The company reportedly emerged from Chapter 11 bankruptcy reorganization in February 2019, after eliminating $295 million in debt and preferred equity obligations from its balance sheet, with 130 million in debt and $23 million in cash.
The company filed a Form D to raise capital from investors in 2018. The total offering amount was purportedly $3,100,000, according to the Reg D.
Investigating Potential Securities Claims
Energy investments such as Petroquest Energy Inc. 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.
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 Petroquest Energy Inc., 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.