Notice to investors in Ninepoint Energy Fund (SPROENEF:CN) that there is an investigation into Ninepoint. Haselkorn & Thibaut, P.A. law firm is a nationwide investment fraud law firm, is investigating potential sales practice violations by financial advisors who were recommending energy sector-related investments to main street investors. Haselkorn & Thibaut is investigating Ninepoint Energy Fund (SPROENEF:CN) for potential FINRA arbitration claims based on possible sales practices of financial advisors and broker-dealers.
The recent trading in SPROENEF: CN had been in the $3.00 range. Looking back, for most of 2016, 2017, and 2018 (except for volatility in the 4th quarter 2018), it was trading near $15.00 or even higher at times. Although trending down in 2019, it was trading around $8.00 to $10.00 by late 2019 and into early 2020. Year-to-date returns are down over -75%.
Ninepoint Energy Fund (SPROENEF: CN) – is an open-end fund incorporated in Canada. The Fund seeks to achieve long-term capital growth. The Fund invests primarily in equity and equity-related securities of companies that are involved directly or indirectly in the exploration, development, production, and distribution of oil, gas, coal, uranium, and other related activities in the energy and resource sector.
SPROENEF: CN Lawsuit Investigation
The Haselkorn & Thibaut, P.A. law firm is a nationwide investment fraud law firm (www.investmentfraudlawyers.com) investigating potential sales practice violations by financial advisors who were recommending SPROENEF: CN and many similar energy sector investments sold to investors.
For investors, this is a particularly tough blow as these are the types of investments that were often recommended by financial advisors to clients who were looking for income in their portfolios (often retirees or similarly conservative investors). This was likely a recommendation that was expected to be low volatility and fairly conservative, now investors are faced with substantial losses as a result of a level of risk to their original investment principal that was probably never adequately disclosed (if it was ever disclosed at all) by their financial advisors.
Many of these investments were sold by financial advisors without proper risk disclosures, as these are considered very risky and complicated securities.
In cases where these were recommended to retirees or similar conservative income-seeking investors there is the potential for sales practice abuse as a result of misrepresentations, but more often as a result of omissions of material fact, or due to a lack of proper supervision.
Recover Ninepoint Energy Fund Losses
For some investors, a private FINRA arbitration customer dispute enables them to bring a claim and potentially recoup their investment losses. These customer disputes typically involve only paper discovery and no depositions, and they are generally faster and more efficient compared to traditional court litigation, as they provide a private forum to resolve disputes more quickly and efficiently.
About Haselkorn & Thibaut, P.A.
Haselkorn and Thibaut, P.A. is a nationwide law firm specializing in handling investment fraud and securities arbitration cases. The law firm has offices in Palm Beach, Florida, on Park Avenue in New York, as well as in Phoenix, Arizona, and Cary, North Carolina. The two founding partners have nearly 45 years of legal experience.
Haselkorn & Thibaut, P.A. has filed numerous (private arbitration) customer disputes with the Financial Industry Regulatory Association (FINRA) for customers who suffered investment losses relating to issues similar to those matters mentioned above. There are typically no depositions involved, and those cases are typically handled on contingency with no recovery, no fee terms. Experienced attorneys at Haselkorn & Thibaut, P.A., are available for a free consultation as a public service. Call today for more information at Call 1-800-856-3352 or visit our website and email us from there at www.investmentfraudlawyers.com.