Notice to Morgan Stanley Customers Who Purchased Seadrill Ltd. and Other Oil and Gas Investments -- Silver Law Group and Law Firm of David R. Chase, PA Initiate Investigation Into Potential Claims for Recovery of Losses
FORT LAUDERDALE, Fla., Jan. 13, 2016 (GLOBE NEWSWIRE) -- Silver Law Group and the Law Firm of David R. Chase, P.A. announce their investigation into the suitability of recommendations made by Morgan Stanley financial advisors to their retail clients to purchase Seadrill, Cobalt International Energy and other oil and gas investments, including master limited partnerships (MLPs).
The Law Firms are investigating whether certain Morgan Stanley financial advisors made unsuitable recommendations to purchase Seadrill, Cobalt and other oil and gas investments, to those who were not appropriate to assume the risk and volatility of these securities, particularly elderly investors living on income. The Law Firms are also investigating whether clients’ portfolios were improperly over-concentrated in oil and gas investments based upon their advisor’s recommendations.
Seadrill and Cobalt, along with oil and gas investments generally, have endured devastating losses in value over the last year. Investors who have suffered declines in their oil and gas investments solicited by their stock broker are encouraged to contact the law firms to explore their legal rights, and the potential to recover their losses. Cases are taken on a contingency fee basis, meaning no attorney’s fee is owed if there is no recovery.
Silver Law Group and the Law Firm of David R. Chase, PA, focus their practice on the representation of investment fraud victims in claims against securities brokerage firms. Scott L. Silver, managing partner of the Silver Law Group, has devoted his legal career to representing aggrieved investors. David R. Chase, principal of the Law Firm of David R. Chase, PA., is a former SEC Prosecutor. Our lawyers have collectively represented hundreds of investors in FINRA or securities arbitration claims and recovered millions of dollars from large and regional brokerage firms.
For more information about the firms, their lawyers and their oil and gas investment practice area, please visit the firms’ oil and gas investment website at: www.oilgasfinraarbitration.com. You can also visit the firms’ respective websites at: www.silverlaw.com (Silver Law Group) or www.davidchaselaw.com (Law Firm of David R. Chase, PA). You may contact toll-free either Mr. Silver at: (800) 975-4345 or Mr. Chase at: (800) 760-0912 for a confidential, no cost consultation on the potential for recovery of your investment losses. Our attorneys represent clients nationwide in securities cases to recover investment losses.
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
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