Hi-Crush Inc. (HCR) Shareholders may have Claims
Have you suffered losses investing in Hi-Crush Inc.(HCR) at the advice of your financial advisor? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Dispute Resolution.
Hi-Crush Inc., a Houston-based frac sand company, reportedly filed for Chapter 11 protection in bankruptcy court on Sunday. The company reportedly owns more than $953 million of assets and has more than $699 million of debt, according to bankruptcy filings.
The company says the bankruptcy filing was necessary as part of a financial restructuring agreement with 94 percent of Hi-Crush’s senior note holders.
Hi-Crush is reportedly the third frac sand company to file for bankruptcy this year after record low crude prices caused by the coronavirus pandemic have dramatically cut demand and forced the closure of mines across the United States.
According to Market Watch today, the company’s share price has declined -82.74% YTD.
Investigating Potential Claims
The White Law Group is investigating potential claims involving broker dealers who may have improperly recommended Hi-Crush Inc. 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 Hi-Crush Inc., 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.