Have you suffered losses investing in Paladin Energy Bonds? If so, the attorneys at The White Law Group may be able to help you recover your losses with a FINRA arbitration claim against the brokerage firm that recommended the bonds to you.
On April 21, 2016, Paladin Energy Corporation filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division.
According to the court papers Paladin is an oil and gas producer with interests in numerous wells in Texas and New Mexico. Paladin’s liabilities include over $22 million owed under a 2008 Credit Facility with MUFG Union Bank N.A. and trade debt.
High-yield bonds—also called non-investment-grade bonds, speculative-grade bonds, or junk bonds—are bonds that are rated below investment grade, typically ‘BB’ or lower by Standard & Poor’s and ‘Ba’ or lower by Moody’s. They pay high yields to bondholders because the borrowers credit ratings are less than pristine, making it difficult for them to acquire capital at an inexpensive cost. Junk bonds carry an above average risk that the issuer will default on the bond. The increased risk makes them arguably unsuitable for many investors.
If you have lost money investing in the following Paladin Energy offerings, then The White Law Group may be able to help:
Paladin Energy 7% 3-31-2020
Paladin Energy 6% 4-30-2016
Brokerage-firms and investment adviser are required to make investment recommendations that are suitable for their clients in light of their clients particular investment situation – net worth, investment objectives, income, and investment experience. Brokerage firms or advisors who sell junk bonds to unsuitable investors or fail to adequately disclose the risks of the investments can be held accountable for losses suffered through a FINRA arbitration claim.
If you have concerns regarding your investment in Paladin Energy bonds and would like to speak with a securities attorney about your litigation options, please call The White Law Group at (888) 637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
To learn more about The White Law Group visit www.whitesecuritieslaw.com.