Investigating potential claims – Hard Rock Partners 2013 L.P.
Have you suffered losses investing with Hard Rock Partners 2013 L.P.? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Hard Rock Partners 2013 L.P. is a Regulation D private placement investment sponsored by Hard Rock Exploration, and based out of Charleston, WV. The form D was filed in 2013. The total offering amount was $30,000,000.
Hard Rock Exploration, Inc. is an independent oil and gas development company that sponsors drilling programs such as Hard Rock Partners 2013 L.P. to raise money from investors. The company was founded in 2003 and is located in Charleston, West Virginia.
On September 5, 2017, Hard Rock Exploration, Inc. along with its affiliates filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of West Virginia.
Many oil and gas LPs have high expense ratios, and due to the decline in the overall health of the oil and gas market, are suffering. Some are on the brink of default, or worse yet, bankruptcy. Such an outcome is extreme, but not unforeseen. It only highlights the unsuitability of these investments for most retail investors – particularly in large concentrations.
For many investors, the decline in oil prices in the last two years may be cause for concern. Oil and gas investments involve substantial risks and are only appropriate for sophisticated investors.
How to Recover Investment Losses
The White Law Group is investigating the liability that brokerage firms may have for selling Hard Rock Partners 2013 L.P. and other Hard Rock Exploration offerings.
Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.
Unfortunately, the high commissions associated with oil and gas partnerships may provide broker-dealers with enough incentive to overlook FINRA suitability and due diligence requirements. According to the Form D, “Commissions of up to 8% shall be paid by MGP to registered brokers or dealers.”
If you have suffered investment losses in Hard Rock Partners 2013 L.P. you may be able to recover your losses. For a free consultation with a securities attorney, please contact The White Law Group at (888) 637-5510.
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 Vero Beach, Florida.
For more information on The White Law Group, please visit our website at www.WhiteSecuritiesLaw.com.