Have you suffered losses investing in Miller Energy Resources? If so, the securities attorneys of The White Law Group may be able to help you recover your losses in a FINRA arbitration claim against the brokerage firm that recommended the investment.
Miller Energy Resources is an oil and natural gas production company focused on Alaska. According to their website, “The Company has a substantial acreage, reserve, and resource position in the State, significant midstream and rig infrastructure to support production, and 100% working interest in and operatorship of most of its assets.”
The deflated energy prices has many companies like Miller Energy Resources in disarray. However reduced oil and gas prices was not the only troubles Miller Energy Resources faced this year.
In August, the Securities and Exchange Commission announced charges alleging that Miller Energy Resources Inc., and certain chief officials, inflated values of oil and gas properties, resulting in fraudulent financial reports. A few months later, in October, Miller Energy Resources filed for chapter 11 bankruptcy.
Oil and gas investments are generally speculative and can be very high risk ventures. Even bonds in the oil and gas industry, which many investors think of as “safe,” are not without risk.
When recommending investments to clients, brokers have a responsibility to adequately disclose the risks associated with the investment. Brokers also have a duty perform the necessary due diligence to determine suitable investments that are inline with the client’s net worth, investment experience and objectives.
Brokers that overlook suitability standards or fail to disclose pertinent investment information they may be liable for investment losses. The White Law Group is investigating the liability some brokers may have for recommending Miller Energy Drilling 2009-A, LP. and Miller Energy Income 2009-A, LP.
To determine whether you may be able to recover investment losses incurred in Miller Energy Resources please contact The White Law Group at 312-238-9650.
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.