Have you suffered investment losses in a Mountain V Oil and Gas investment? If so, The White Law Group may be able to help.
The White Law Group is investigating potential securities fraud claims on behalf of investors involving various broker-dealers that recommended and sold risky oil and gas investments like Mountain V. Particularly, Mountain V drilling programs launched between 2005 and 2006.
Headquartered in Bridgeport, West Virginia, Mountain V Oil & Gas, Inc. was founded in March 1994 by Steve and Mike Shaver. Mountain V is a privately company that set out to acquire and develop oil and gas reserves in the Appalachian Basin of Tennessee, Kentucky and West Virginia.
Unfortunately, it appears that some broker-dealers recommended Mountain V drilling programs to unsuitable investors. The high commissions associated with oils and gas investments often provides some broker-dealers with enough incentive to overlook suitability requirements set forth by the Securities and Exchange Act of 1934. The substantial risks involved in oil and gas investments make them more appropriate for sophisticated and high net worth investors.
Before recommending an investment, a broker-dealer has a fiduciary duty to perform a reasonable investigation to determine whether the investment is suitable for an investor given their age, risk tolerance, investment experience, financial needs and investment objections. In addition, broker-dealers must adequately disclose all the risks associated with the investment
It appears that many broker dealers may have failed to perform the necessary due diligence when recommending Mountain V investments to their clients. Brokers that overlook suitability requirements or misrepresent an investment can be liable for investment losses.
If you invested in a Mountain V drilling program and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at https://www.whitesecuritieslaw.com.