Concerned about your investment in Paringa Resources Limited?
Are you concerned about your investment in Paringa Resources Limited? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Paringa Resources Limited (NASDAQ: PNRL) (ASX: PNL) advises that its subsidiary, Hartshorne Mining Group, LLC and its U.S. affiliates, announced this week that it has filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the Western District of Kentucky.
According to the company, this was to “facilitate a value-maximizing sale of its operating Poplar Grove coal mine, undeveloped Cypress coal project and other business assets.” Hartshorne reportedly intends to continue mining operations during the bankruptcy and sale process, after transitioning from two mining units to one mining unit.
Unfortunately for investors, with stricter regulation on coal imports in China and carbon emissions, investing in coal is becoming a much riskier venture.
According to Bloomberg NEF’s New Energy Outlook 2018, coal plant economics are shifting, and many major markets such as the U.S., China, Germany and India are turning to solar and wind energy plants.
Energy investments such as Paringa Resources Limited typically involve a high degree of risk. The energy market has seen enormous losses over the last few years due to the declining cost of oil and other energy commodities. These investments may seem wise at first, until the dramatic drop in distributions.
Investigating Potential Securities Claims
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly selling high-risk energy investments, like Paringa Resources Limited, to their clients.
Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Recommendations should only be made if the investment is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance.
Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through FINRA arbitration.
If you are concerned about your investment in Paringa Resources Limited, The White Law Group may be able to help. Please call the offices at 888-637-5510 for a free consultation with a securities attorney.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, please visit https://www.whitesecuritieslaw.com.