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.