Since shares of many Master Limited Partnerships (MLPs) and other energy-related
stocks began crashing in 2015, the investment fraud lawyers at the law
firm of Meyer Wilson have been retained by numerous customers seeking
to recover for their MLP and other energy stock losses.
As we reported several months ago, many investors were sold MLPs by their
brokers with the promise that these investments had little risks and would
pay handsome dividends for years to come. Based on our investigation,
it appears that many brokers misstated key facts about these investments
to their customers and oftentimes over-concentrated their customers’
portfolios into these risky investments. Many of these customers are retirees
who are on fixed-incomes and have seen significant portions of their retirement
savings wiped out in a very short timeframe with little hope of rebounding.
While there are hundreds of MLPs and other energy stocks that have lost
money in recent months, some of the more common holdings that we are seeing
in customers’ portfolios include the following:
Linn Energy LLC (NASDAQ: LINE) – This oil and natural gas company was trading at
near $40 per share in early 2013. It is now trading under 40
cents per share.
Kinder Morgan, Inc. (NYSE: KMI) – Shares of this holding company that owns and operates
pipelines and terminals have been sliced to approximately a quarter of
their value only one year ago, from over $40 per share to a mere $11 per
share in the last 52 weeks.
BreitBurn Energy Partners L.P. (NASDAQ: BBEP) – Investors who purchased shares of this company
that acquires and develops oil and gas properties have seen their shares
decline from over $20 in 2013 to a mere $0.30 just recently.
Other investments that we are seeing and being contacted about include
Chesapeake Energy Corporation (NYSE: CHK),
Genesis Energy L.P. (NYSE: GEL),
Vanguard Natural Resources LLC
(NASDAQ: VNR), and
ONEOK Partners L.P. (NYSE: OKS).
If your investment portfolio has declined substantially because of investments
in MLPs and other energy-related stocks, contact the lawyers at Meyer
Wilson today for a
complimentary case evaluation. They have successfully represented more than 1,000 investors in stockbroker
mediation, arbitration, and litigation claims.