DKR Files Arbitration Claim to Recover Breitburn Losses
Dimond Kaplan & Rothstein, P.A. has filed Financial Industry Regulatory Authority (FINRA) arbitration claims against J.P. Morgan Securities to recover Breitburn Energy LP (NASDAQ: BBEP) and other oil and gas investment losses on behalf of investors.
Breitburn Energy Partners LP is an oil and gas master limited partnership (MLP). Its stock has dropped from a high of about $22 per share in August 2014 all the way down to $0.31 in May 2016. As with many oil and gas companies, Breitburn borrowed millions of dollars to fund its business. The recent decline in oil and gas prices may make Breitburn unable to make its loan payments and likely will greatly impact its ability to pay distributions to investors. Investors who were sold BBEP as a safe, income-producing investment would have been misled, especially if their accounts were over-concentrated in Breitburn and other oil and gas MLPs.
Brokers and brokerage firms must recommend only suitable investments and must consider investors’ risk tolerance, investment objectives, income needs, and net worth, among other things, when making investment recommendations. Brokerage firms can be held liable for failing to recommend suitable investments to investors and for over-concentrating investors’ accounts in a single security or in securities from a particular industry.
Investors who lost money in Breitburn and other oil and gas investments, such as Linn Energy and Vanguard Natural Resources, may have valid FINRA arbitration claims to recover their investment losses.
Have you Suffered Losses from Oil and Gas Investments?
If you suffered MLP losses in Breitburn or other oil and gas investments you bought from JP Morgan, RBC, Merrill Lynch, UBS, Morgan Stanley, Wells Fargo, Oppenheimer, or another brokerage firm, we can help recover your losses. DKR represents investment loss victims from our offices in Miami, Los Angeles, New York, and West Palm Beach.
Call a Securities Fraud Attorney Today
Contact an attorney at Dimond, Kaplan & Rothstein, P.A. today to schedule an appointment or consultation to review your rights and options. You can also call 888-578-6255 or complete the form on our website for a free case evaluation.