Dimond Kaplan & Rothstein has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim on behalf of investors whose accounts were over-concentrated in Linn Energy (NASDAQ:LINE) and other oil and gas investments. Linn suspended its distributions to investors on October 2015 and its share price has also fallen from nearly $40.00 in late 2012 to only $0.33 as of May 2016, and from nearly $15.00 to only $0.33 in past year alone.
Linn Energy is an oil and natural gas company based in Houston, TX. Linn’s ability to remain in business is in question after it announced that it does not expect to remain in compliance with loan covenants relating to hundreds of millions of dollars of loans that the company took. We have learned that some brokers sold Linn Energy and other oil and gas investments as safe, income-producing investments. Some brokers also over-concentrated investors’ accounts in oil and gas investments, exposing investors to too much risk.
Have you Lost Money in Linn Energy?
If you lost money in Linn Energy or other oil and gas investments you may be able to recover your investment losses through a FINRA arbitration proceeding against the brokerage firm that sold the investments to you. Call our investment fraud lawyers at 888-578-6255 for a free case evaluation. The attorneys at Dimond Kaplan & Rothstein, P.A. have recovered more than $100 million from banks and brokerage firms for their wrongful actions. Contact us to schedule an appointment or consultation today.