For many investors with significant losses in energy-sector securities, there could be a path to recovering your investment losses in Magellan Midstream Partners LP (MMP), Enterprise Products Partners LP (EPD), MPLX LP (MPLX), Tallgrass Energy LP (TGE), Energy Transfer LP (ET), Plains All American Pipeline LP (PAA), Phillips 66 Partners LP (TCP), TC PipeLines LP (TCP), EQM Midstream Partners LP (EQM), Shell Midstream Partners LP (SHLX), Chevron Corp (CVX), Exxon Mobil Corp (XOM), Phillips 66 (PSX), ConocoPhillips (COP), EOG Resources Inc (EOG), Kinder Morgan Inc (KMI), Schlumberger Ltd. (SLB), Valero Energy Corp. (VLO), Williams Companies Inc. (WMB), Marathon Petroleum Corp (MPC).
The Financial Regulatory Authority (FINRA) operates as a nationwide regulator that oversees licensed stockbrokers, financial advisors, and broker-dealer firms. If your financial advisor or the firm they worked for failed to adhere to the sales practice rules and regulations in FINRA, a FINRA customer dispute arbitration could be an option for you to recover your investment losses.
Several major U.S. energy sector companies that issued stocks, (common and preferred) as well as bonds, or firms that packaged securities products in this sector in the form of Master Limited Partnerships (MLPs), exchange-traded funds, mutual funds, exchange-traded notes, etc. all may have left retail investors who were over-concentrated in these securities reeling with large unexpected investment losses.
Individual oil and energy holdings include (but are not limited to): Exxon, Chevron, Phillips 66, ConocoPhillips, EOG Resources, Kinder Morgan, Schlumberger, Valero Energy Corp, Marathon Petroleum Corp, Enterprise Products Partners, Tallgrass Energy, and Energy Transfer.
Investors with accounts at: Morgan Stanley, UBS, Merrill Lynch, Wells Fargo, RBC Capital, Oppenheimer, and many other broker-dealer firms nationwide have received financial advisor recommendations to purchase stocks, bonds, high yield bond funds, MLPs, ETFs, ETNs, and business development companies (BDCs). In many instances, these investments may have been marketed and sold to customers who were risk-averse, such as retirees or other conservative investors, that were seeking income and capital preservation. In other cases, the potential volatility and risks of the products, the individual company, and the energy industry may not have been properly disclosed.
Investments in the energy sector have experienced times of volatility in the past. There are a number of historic examples and for most financial advisors, they need look at the 2008-2009 financial crisis, the 2014-2015 oil market fallout, and the risks that should have been explained by financial advisors recommending these investments were not altogether different than the risks many investors have recently experienced in 2020.
If you have invested in stocks or bond in any of the following, and you have experienced significant investment losses, you should contact Haselkorn & Thibaut, P.A.:
- Magellan Midstream Partners LP (MMP)
- Enterprise Products Partners LP (EPD)
- MPLX LP (MPLX)
- Tallgrass Energy LP (TGE)
- Energy Transfer LP (ET)
- Plains All American Pipeline LP (PAA)
- Phillips 66 Partners LP (TCP)
- TC PipeLines LP (TCP)
- EQM Midstream Partners LP (EQM)
- Shell Midstream Partners LP (SHLX)
- Chevron Corp (CVX)
- Exxon Mobil Corp (XOM)
- Phillips 66 (PSX)
- ConocoPhillips (COP)
- EOG Resources Inc (EOG)
- Kinder Morgan Inc (KMI)
- Schlumberger Ltd. (SLB)
- Valero Energy Corp. (VLO)
- Williams Companies Inc. (WMB)
- Marathon Petroleum Corp (MPC)
The sole purpose of this release is to investigate the sales practices related to recommendations by financial advisors at Morgan Stanley, UBS, Merrill Lynch, Wells Fargo, RBC Capital, Oppenheimer, and other brokerage firms, and any supervision related issues connected to same. The recommendations include “buy” recommendations as well as “hold” recommendations whether or not the investors sold and realized the losses.
What Should Energy Investors With Losses Do Now?
If you are an investor with significant (realized or unrealized) losses connected to energy sector securities you should consider your options and next steps.
You can “wait and see” but keep in mind that statute of limitations and other potential laws, rules, or regulations may impact not only your ability to bring a potential claim at a later date, there may also be a practical impact in terms of the value of any potential claim if you choose a wait and see approach.