Securities Investigation – Cal Phoenix Re 2018-1
Are you concerned about your investment in Cal Phoenix Re 2018-1? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim.
According to reports, PG&E Corporation, (the Pacific Gas and Electric Company) the nation’s biggest utility, filed for bankruptcy on January 29, to relieve itself of billions of dollars in liabilities due to the devastating wildfires in both 2017 and 2018.
Left with close to $30 billion of liabilities, the company has reportedly seen two-thirds of its stock market value wiped out. Bond prices have also reportedly taken a dive.
According to reports, in 2018, the company was seeking a $200 million or greater source of California wildfire insurance from the capital markets, helped by ceding reinsurance firm Tokio Millennium Re.
The Cal Phoenix Re 2018-1 catastrophe bond, sponsored by PG & E, was the first to cover pure wildfire risks which had seen PG&E threatened with liability cases, according to news reports.
Investigating Potential Claims in PG & E
The White Law Group is investigating potential claims involving the liability some brokerage firms may have for improperly recommending Cal Phoenix Re 2018-1 catastrophe bonds to investors. The firm is also investigating Pacific Gas & Electric municipal bond offerings.
Brokerage firms are required to do proper due diligence on any investment that they recommend. If a firm recommends unsuitable investments to its clients, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.
If you have suffered losses investing in Cal Phoenix Re 2018-1 or Pacific Gas & Electric – PG & E Municipal bonds, the securities attorneys at The White Law Group may be able to help you.
For a free consultation with a securities fraud lawyer, please contact The White Law Group at (888)637-5510.
For more information on the firm, and its representation of investors, please visit the website www.whitesecuritieslaw.com.