Have you suffered significant losses investing in Patriot Coal? If so, the attorneys of The White Law Group may be able to help.
According to the International Business Times, Patriot Coal filed for bankruptcy following a 42 cents per share loss in the first quarter of 2012. Filings with the SEC report that the Missouri based company was formerly known as Eastern Coal Holding Company.
When a company files for bankruptcy, investors are often at the end of a long line of creditors seeking their dues. As such, The White Law Group is investigating other avenues for investors to recover their losses.
Specifically, the firm is investigating the liability that FINRA broker-dealers may have for selling securities in Patriot Coal. Broker-dealers have a fiduciary duty to perform adequate due diligence on any investment before they recommend it for sale to their clients and to ensure that any recommendation is appropriate in light of the client’s age, investment experience, income, net worth, and investment objectives.
If a brokerage firm sold an investment in Patriot Coal that was unsuitable or without performing adequate due diligence, they may be held responsible for losses through a FINRA arbitration claim.
To determine whether you may be able to recover investment losses incurred as a result of your purchase in Patriot Coal, please contact The White Law Group at 312-238-9650.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group and the firm’s national securities fraud practice, visit www.WhiteSecuritiesLaw.com.