The national investor law firm, Haselkorn & Thibaut, P.A., is currently investigating David Lerner Associates for the sales of several proprietary products including Energy 11 LP, Energy Resource 12 LP, and Spirit of America Fund (NASDAQ: SOAEX). Energy 11 suspended distribution last year on account of volatility in the oil and gas market, presumably as a fallout of the pandemic.
Energy 11 Lawsuit, Energy Resource 12 Lawsuit, and Spirit of America Fund
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Recently investors have filed claims with The Financial Industry Regulatory Authority (FINRA) claims against David Learners alleging that the investments were unsuitable concentration in proprietary products invested in non-traded oil & gas investments. The investigation is to further find out the sales practices and the supervisory roles regarding risk-averse investors such as retirees.
Thousands of investors were sold Energy 11 LP, Energy Resource 12 LP, and Spirit of America Fund (NASDAQ: SOAEX) and we are currently representing investors in FINRA arbitration claims. A FINRA arbitration is typically faster and easier than a traditional lawsuit. Investors can file these types of claims to recover losses against financial advisors and broker-dealers.
If you own any of these David Lerner products in your portfolio and we suggest you speak to an experienced investment fraud attorney today by calling 1 800-856-3352 for a free consultation.
What are Energy 11 & Energy 12?
Energy 11 and Energy 12 are non-public limited partnerships, securities that are sold as private placements in the energy sector. Although private placements can be the right choice for high net worth investors, they have recently been sold to many regular investors that do not fully understand the risk and lack of liquidity. It is the responsibility of both the stockbroker and his broker-dealer that the investments sold be both understandable and suitable to their clients.
About Haselkorn & Thibaut, P.A.
Haselkorn & Thibaut is a national investment fraud law firm that specializes in fighting for investors. We have over 45 years of experience and a 95% win rate. Investors can meet with us virtually or in person. We have locations in Florida, New York, Arizona, Texas, and North Carolina. All consultations are free. No Recovery, No Fee.