July 27, 2015- Plano, Texas
The Financial Industry Regulatory Authority (FINRA) filed a complaint against Plano based Red River Securities and Brian Keith Hardwick alleging that they violated the Securities Act by making material misrepresentations and omissions related to oil and gas joint venture offerings.
The complaint alleges that misrepresentations include:
- prior wells drilled were producing and profitable when they were not
- omitting the authorizations for expenditure (AFEs) from the offering
- wildly inflating prior income distributions
- failing to disclose that the subject wells were wildcat wells
Disciplinary Proceeding 2013035344201
The complaint seeks and order compelling disgorgement of ill gotten gains, restitution and other relief.
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.
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