Oil and natural gas company SandRidge Energy, Inc. shares have fallen from a price of more than $7.00 in May 2014 to less than $0.10 May 2016. SandRidge has struggled to manage nearly $4 billion in debt and has reduced its workforce, raising concerns about the company’s future as oil prices remain low. The stock was recently delisted from the New York Stock Exchange for “abnormally low” trading price levels and now trades on the OTC Markets (OTCMKTS: SDOC).
Brokerage firms must have reasonable grounds for investment recommendations that they make to you. They are required to consider your investment objectives, risk tolerance, income needs, and overall financial position, among other things, when making investment recommendations. Brokerage firms can be held liable when they recommend unsuitable investments that are not consistent with your profile. Brokerage firms also can be held liable for over-concentrating investors’ money in one security or in one sector of the economy.
Did you lose money in SandRidge Energy?
If you lost money in SandRidge Energy or other oil and gas investments, our investment fraud lawyers may be able to help you pursue a FINRA arbitration claim to recover your losses. Contact a DKR stockbroker negligence lawyer to discuss your rights and to schedule an appointment or consultation today.
