Penneco Drilling Associates 2013-1 LP Investment Losses
Are you concerned about your investment losses in Penneco Drilling Associates 2013-1 LP? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
Penneco Drilling Associates is an oil and gas private placement sponsored by Penneco Oil Company, based in Delmont, Pennsylvania. The company operates hundreds of oil and gas wells in the Appalachian Basin.
For many investors, the recent decline in gas prices may be cause for concern. Oil and gas investments involve substantial risks and are only appropriate for sophisticated investors. Alternative investments such as these, have high sales commissions and due diligence fees. These high commissions and fees can provide brokers with an enormous incentive to push the product to unsuspecting investors who do not fully understand the risks. They may even focus on the income potential and tax benefits while downplaying the risks.
Unfortunately for investors, many oil and gas LPs are struggling to make distribution payments and some may end up defunct.
Suitability of Oil and Gas LPs
The White Law Group is investigating the liability that brokerage firms may have for improperly selling oil and gas investments like Penneco Drilling Associates 2013-1 LP to investors.
Broker dealers that sell private placements 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.
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. Fortunately, FINRA provides an arbitration forum for investors to resolve such disputes.
If you are concerned about your investment in Penneco Drilling Associates 2013-1 LP or another oil and gas LP, please contact The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection 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.