Inappropriate Investments During Oil Downturn
| November 18, 2019
Did Your Broker Heavily Invest in Oil Companies?
It is February 2016 and the oil industry is in its deepest downturn since the 1990’s. This is in sharp contrast to just a few years ago when oil industry profits were at record highs. When you’re filling up your car at the pump the drop in oil prices is certainly welcome. But if your stockbroker overloaded your retirement portfolio with shares of Exxon Mobile, Master Limited Partnerships, and other energy related stocks while the oil industry was booming, your portfolio has probably declined substantially. If this describes your situation than I might be able to help get some of your money back, if the investments recommended to you were not appropriate.
At Meyer Wilson, our law firm has represented over a thousand investors in claims against brokerage firms for over fifteen years. We’ve recovered hundreds of millions of dollars for our clients. We strongly believe that investors should not have to pay the price for unsuitable or fraudulent investment advice.
In recent months, we’ve reviewed numerous account statements for clients and prospective clients who have lost substantial amounts of money in their investment accounts because of the decline in oil prices and energy stocks. Many retirees tell us that they have seen their portfolios slashed in a short amount of time. In many of these cases, the investors’ losses could have been significantly mitigated or avoided if the stock broker had simply provided their customers with the appropriate amount of diversification and avoided concentrating the account in one sector.
What many investors don’t realize is that if they lose money because of the misconduct or fraud by their broker, they do have legal options. If you have lost money because of the recent drop in oil and energy related stocks, we might be able to help you get back the money you deserve.
Contact us today! Our consultations are free of charge and all of our cases are handled on a contingency fee basis.