Category Archives: Energy Securities

Thomas Brolle Investigation-Former Morgan Stanley Broker-Allentown, PA

April 2018-Allentown, PA

We are investigating former Morgan Stanley broker Thomas Brolle  on behalf of a retired couple who allege that they have suffered losses as a result of  unsuitable investments in energy, biotech and precious metals, including but not limited to:

  • Breitburn Energy Partners, L.P.
  • Seadrill, Ltd.
  • NRG Yield
  • Vanguard Natural Resources
  • Goldman Sachs MLP Energy Terraform Global
  • Crescent Point Energy
  • Celldex Therapeutics 
  • First Trust Precious Metals unit investment trusts

According to FINRA records, Thomas Brolle is not currently  registered with any broker dealers. He was employed by Morgan Stanley from 6/2009-11/2016. From 11/2016-12/2017 he was employed by Purshe Kaplan Sterling Investments.

We are interested in hearing from anyone having information helpful to our investigation.

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

Losses on Triloma Funds ? Options for Recovery.

April 2018

Investors who have suffered losses on investments in the Triloma EIG Energy Income Fund or the Triloma Energy Income Fund  EIG Term 1, may be  able to recover losses by pursuing FINRA arbitration.

In March 2018, Triloma’s Board of Trustees approved a plan of liquidation for the funds. According to the plan monthly distributions and dividend reinvestment plans have ended.

Stockbrokers have a duty to make investment recommendations that are suitable for the individual and must make certain that the investor understands the risks associated with an investment.

Investments like Triloma funds are not suitable for all investors.

If you have questions about losses on an investment in Triloma Funds, call for a no charge consultation to discuss your options. You may be able to recover damages from the brokerage firm that recommended the investment.

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

How to Recover Losses on Reef Oil and Gas Fund Investments

April 2018-Richardson, TX

Reef Securities Inc. and its owner and president Frank Mauceli were sanctioned by FINRA on April 11, 2018, for failing to timely notify investors in an Oil and Gas Drilling and Income Fund L.P. , sold in 2014, of revisions to an offering prospectus and of the investors’ rights to rescind his or her investment.

In addition Reef was sanctioned for advertising violations in another Reef offering. According to the FINRA sanction the subject advertising communications:

“failed to provide a balanced presentation or a sound basis for evaluating the investments being promoted, contained misleading and unwarranted claims, and, in addition, made prohibited profit projections.”

FINRA noted the following as being inconsistent and unwarranted statements in the subject advertising materials:

  • a 3 year profit range of 45%-75% in one communication vs a 35-45% range in another communication
  • a divest period of 24-36 months in one communication vs. 3-5 years in another communication
  • prohibited investor performance projections such as “Total Anticipated Profit 45%-75%”

Reef Securities was censured and fined $40,000. Mauceli was fined $5,000 and suspended 4 months from association from any FINRA member firm in all principal capacities. FINRA AWC2015043469001

Reef Oil and Gas, an affiliate of Reef Securities, engages in the developing, exploiting and producing oil and natural gas.

A partial list of recent Reef oil and gas offerings we have been investigating:

  • Reef 2015 Oil & Gas Opportunity Fund
  • Reef 2015 Income Fund
  • Reef Bakken Bear Cat Drilling Fund
  • Reef 2012-A Private Drilling Fund
  • Reef 2011 Private Drilling Fund
  • Reef 2010 Drilling Fund
  • Reef 2009 Drilling Fund
  • Reef 2007-2009 Drilling Program
  • Reef Oil & Gas Drilling & Income Fund
  • Reef Oil & Gas Income & Development Fund III
  • Reef Oil & Gas Income & Development Fund IV

Reef Oil and Gas investments were sold by many brokerage firms, including Reef Securities. These investments can be unsuitable for certain individuals, including the elderly and retired. If you have losses on an investment in one of the Reef Oil and Gas offerings, call for a no charge consultation to discuss your 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

Gerry Maisner-RBC Capital Markets Broker-Discloses Customer Dispute-Westport, CN

April 2018- Westport, CT

The FINRA records of  Irwin Gerald (Gerry) Maisner ,  a  stockbroker who is currently employed by RBC Capital Markets and who was previously  employed by  Janney Montgomery Scott , disclose 4 prior final customer disputes .

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA arbitration #16-2978, a customer of Janney Montgomery Scott and RBC Capital Markets alleged damages of $250,000 for an unsuitable recommendations in energy bonds. That case was settled for $22,500 in 12/2017.

Gerry Maisner  was employed by Janney Montgomery Scott from 2002-2014. Maisner has been employed by RBC Capital Markets since 12/2014.

If you have losses in an account in an account handled by Gerry Maisner  , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses.

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

Aaron Brodt-Former Accelerated Capital Group Broker-Subject of Customer Suits Alleging Unsuitable Investments-Scottsdale, AZ

March 2018-Scottsdale, AZ

The FINRA records of Aaron Paul Brodt  , an advisor with Ashton Thomas Private Wealth who is currently a registered stockbroker with  Peachcap (Peachtree Capital Corp.)  disclose a currently pending customer dispute and 3 prior final customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA case #16-2532,  a client alleged damages of $100,000 for recommending a debt-asset backed investment purchased in May 2015. The customer alleged the recommendation was unsuitable. That case settled for $58,333.

In a second similar case in 2016 , a customer alleged that  Brodt recommended a debt-asset backed investment  in May and October of 2015 that was also unsuitable. That case was settled for $116,667.

In the currently pending matter, FINRA Case 17-1178, a customer of Brodt’s prior employer, Accelerated Capital Group alleges negligence, over concentration, breach of fiduciary duty and failure to supervise in connection with the recommendation to purchase alternative investments. The customer seeks damages of $340,000.

Alternative investments include non publicly traded real estate investment trusts (REITS)  and limited partnerships (oil and gas and equipment leasing) . It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, non transparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed. They are generally not suitable for retirees who are seeking to protect from the loss of capital.

Brodt has been registered with Peachcap since 7/2016. Prior to that he was registered with Accelerated Capital Group 2/2012-5/2016.

If you have questions about an account handled by Aaron Brodt, call for a no charge consultation to discuss your 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