Don’t Fall Prey to Oil Spill Stock Scams
It didn’t take long for fraudsters to find a way to take advantage of the catastrophic oil spill in the Gulf of Mexico. The Financial Industry Regulatory Authority (FINRA) has reported that there is a financial threat to investors associated with oil spill stock scams. Apparently, investors are being promised financial gains by investing in companies that allege to be involved in clean-up.
Since the Deepwater Horizon oil rig exploded in the Gulf of Mexico, causing oil to billow into the water on a daily basis, millions of dollars have been spent in the cleanup efforts. As of the date of this article, the long-term costs are still unknown. While experts are looking for ways to cleanup the oil and stop the leak, scam artists are formulating ways to profit.
Know the Signs of an Oil Spill Scam
There are some ways that you can detect an oil spill stock scam. You need to be cautious if you read a press release, unsolicited fax or spam email that contains the following:
- Statements that the company has the products or technologies that would aid in restoring the ecosystem or addressing the oil spill
- Claims that the company has, or is expecting to have, a contract with BP
- Pressure to invest right away in the stock
- Claims that the company is advising BP or a government department
- Predictions of tremendous growth
Avoid Financial Loss in an Investment Scheme
As with any investment, you need to do your homework first and don’t rely on the claims and promises made by the company and/or solicitor. Find out where the stock trades and inquire into the company’s SEC filings. Be especially careful if the stock is touted as having immediate payoffs.


The Meyer Wilson Way
Results-Focused Representation-
More than $350,000,000 Recovered
-
Voted Best Lawyers in America® for Ten Years Running
-
David Meyer is President of Public Investors Advocate Bar Association (PIABA)
-
Over a Thousand Investor Claim Cases Since 1999
-
Exclusive Focus on Investor Claims & Class/Mass Action Lawsuits
-
Deep Bench of Skilled Attorneys and Staff Members


We Recover Investment Losses
Helping You Take Back What Is Yours-
Jury Verdict Won Against Prudential Securities $262 Million
-
Recovered for 100-Year Old Widow $30 Million
-
Recovered in Retirement Losses $10 Million
-
Recovered for a Large Group of Individual Investors $6.5 Million
-
Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
-
Recovered for Elderly Ponzi Scheme Victim $3.2 Million
-
Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
-
Recovered for 35 Families in Northeast Ohio $3.1 Million
-
Losses Recovered for 20 Retirees $3 Million
-
Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million