Tag Archives: recover oil MLP losses

RBC Capital Ordered to Pay $723K For Sale of MLPs to Senior Citizen-Tampa, FL

November 2017-Tampa, FL

A FINRA arbitration panel comprised by an all public panel of three arbitrators, ordered RBC Capital Markets and broker Bruce Cameron of Norwell, Massachusetts,  to pay a former client, an elderly lady, $723,000 for losses suffered in an over concentration of oil and gas master limited partnerships (MLPs), which included:

  • Breitburn Energy Partners
  • Enable Midstream Partners
  • Enterprise Products
  • Ferrellgas Partners
  • Gramercy Property Trust, 
  • JP Energy Energy Partners
  • Mid Con Energy Partners
  • Southcross Energy Partners
  • Summit Midstream Partners
  • Tallgrass Energy Partners
  • CrossAmerica Partners
  • Enlink Midstream Partners

The panel found RBC and Cameron liable on the claims of negligence, negligent supervision and breach of fiduciary duty. FINRA Case #17-0305, Nourie, et al v RBC Capital Markets

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. When a customer seeks to recover damages for losses incurred in a stock brokerage account, cases are typically filed as arbitrations with FINRA dispute resolution. Arbitration is generally must quicker and more efficient than court litigation. Cases are often resolved in 12 months or so.

Brokers have a duty to make suitable recommendations to customers, taking into account their age, health, net worth and risk tolerance.

If you have losses in your account that you believe are the result of the negligence or improper advice of a broker, call to learn about how you may be able to recover damages through FINRA arbitration.

The Law Office of Robert H. Rex, P.C.  , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

How to Recover Losses on Energy Related Master Limited Partnerships

May 2016

Investor Claims for Losses on Master Limited Partnerships-

Energy Related Investments

Rex Securities Law is investigating claims for investors who suffered significant losses as a result of investing in master limited partnerships (MLPs) in energy related investments.

MLPs are limited partnerships that are traded on a stock exchange or in some cases a publicly traded limited liability company (LLC) that has elected to be taxed as a partnership. Prior to the recent crash in oil prices, many financial advisors recommended that retirees seeking dependable fixed income invest in MLPs in order to generate cash flow.

The drop in price of oil from over $110 to the mid-$20’s has resulted in huge losses for many of these MLP’s, In addition to the losses, there are often significant adverse tax effects facing investors, many of whom were unaware of such potential risk.

Here is a partial listing of MLPs that were sold over recent years:

  • American Midstream Partners
  • Antero Midstream Partners
  • Arc Logistics Partners
  • Atlas Resource Partners
  • Azure Midstream Partners
  • Cone Midstream Partners
  • Columbia Pipeline Partners
  • Delek Logistics
  • Enable Midstream Partners
  • EQT Midstream Partners
  • JP Energy Partners
  • Midcoast Energy Partners
  • MPLX
  • New Source Energy Partners
  • Niska Gas Storage
  • NGL Energy Partners
  • PBF Logistics
  • Phillips 66 Partners
  • Rice Midstream Partners
  • Rose Rock Midstream Partners
  • Shell Midstream Partners
  • Summit Midstream Partners
  • Southcross Energy Partners
  • Sprague Resources
  • Tallgrass Energy Partners
  • Tesoro Logistics Partners
  • Western Refining Logistics
  • World Point Terminals
  • Williams Partners
  • Valero Energy Partners
  • VTTI Energy Partners

Brokers are required to make recommendations that are suitable given the investor’s age, health, level of financial sophistication, tolerance for risk and investment objectives. FINRA arbitration affords investors the opportunity to recover damages from a brokerage firm that permits or encourages its brokers to make unsuitable recommendations.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Worst Performing Mutual Funds for 2015

February 11, 2016

According to the Financial Times, the worst performing US Mutual Funds of 2015 are :

 Name                                                                             Return

  • RS Global Natural Resources                  (36.36%)
  • Tortoise MLP & Pipeline                            (35.17%)
  • MainStay Cushing MLP Prem                 (33.7%)
  • Goldman Sachs MLP Energy                    (32.75)
  • Van Eck Global Hard Assets                    (31.09%)
  • Oppenheimer SteelPath MLP Inc        (29.22%)
  • MainGate MLP                                                (28.96 %)
  • PIMCO Commodities PLUS                    (28.96%)
  • Vanguard Precious Metals                      (28.2%)
  • Prudential Jennison Nat Resource     (27.39%)

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Losses on iPath S&P GSCI Crude Oil ETN May Be Recoverable

With interest rates at an historic low during recent years, many brokerage firms and financial advisors, seeking yield for retirees, recommended investments in oil & gas investments, which include not only stocks, but master limited partnerships (MLPs) and more exotic investments that track various indexes related to oil and gas .

Since these  are dependent upon the price of oil or gas, commodities that fluctuate widely, and are often times leveraged, they are generally not considered to be suitable for the average retiree who has a moderate or conservative investment objective.

iPath S&P GSCI Crude Oil Tr ETN (OIL) is designed to provide exposure to the S&P GSCI Crude Oil Return Index. The index reflects the returns available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract.

If you were sold this investment with the belief that it was a low risk investment that was suitable for your portfolio, you may be able to recover damages for any losses you have suffered. Call to speak with an experienced securities attorney.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Direxion Daily Natural Gas Related Bull 3X Losses May be Recoverable

With interest rates at an historic low during recent years, many brokerage firms and financial advisors, seeking yield for retirees, recommended investments in oil & gas investments, which include not only stocks, but master limited partnerships (MLPs) and more exotic investments that track various indexes related to oil and gas .

Since these  are dependent upon the price of oil or gas, commodities that fluctuate widely, and are often times leveraged, they are generally not considered to be suitable for the average retiree who has a moderate or conservative investment objective.

Direxion Daily Natural Gas Related Bull 3X Shares (GASL) is an exchange-traded fund which seeks daily investment results, net of expenses , of 300% of the performance of the ISE-REVERE Natural Gas Index. Reaching a high of over $60 in June 2014, as of early February 2015 it is trading a just over $3.

If you were sold this investment with the belief that it was a low risk investment that was suitable for your portfolio, you may be able to recover damages for any losses you have suffered. Call to speak with an experienced securities attorney.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

JP Morgan Alerian MLP ETN (AMJ) Losses May be Recoverable

With interest rates at an historic low during recent years, many brokerage firms and financial advisors, seeking yield for retirees, recommended investments in oil & gas investments, which include not only stocks, but master limited partnerships (MLPs) and more exotic investments that track various indexes related to oil and gas .

Since these  are dependent upon the price of oil or gas, commodities that fluctuate widely, and are often times leveraged, they are generally not considered to be suitable for the average retiree who has a moderate or conservative investment objective.

JP Morgan Alerian MLP ETN (AMJ) is an exchange-traded note linked to the performance of the Alerian MLP index.

If you were sold this investment with the belief that it was a low risk investment that was suitable for your portfolio, you may be able to recover damages for any losses you have suffered. Call to speak with an experienced securities attorney.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Recover Oil & Gas Master Limited Partnership (MLP) Losses

January 2, 2015

If you have suffered losses on oil and gas master limited partnerships (MLPs) as a result of the recent plunge in price of crude, you may be able to recover those losses if the recommendation made for you to invest is deemed to be unsuitable.

FINRA Rule 2111 requires that a stock broker person “have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the [firm] or associated person to ascertain the customer’s investment profile.”

If you are retired and living on fixed income some of these investments may not have been suitable for your level of risk tolerance.

Oil & gas master limited partnerships have plummeted in value since oil’s retreat from over $100/bbl to the current mid $50/bbl valuation. For example as of January 2, 2015, some examples of the losses suffered in some popular oil and gas MLPs:

  • Memorial Production Partners (MEMP)        down 40% to $14.59
  • EV Energy Partners (EVEP)                                     down 51% to $19.27
  • Vanguard Natural Resources (VNR)                  down 53% to $15.07
  • Breitburn Energy Partners (BBEP)                     down 68% to $7.00
  • Linn Energy  (LINE)                                                         down 69% to $10.13

Contact us to learn more about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870