Soreide Law Group has been contacted by several investors who purchased oil and gas stock recommended by their brokers and have suffered devastating losses. Often these losses are from retirement and conservative portfolios. We are particularly interested in those brokers who may have recommended the following oil stocks:
ATLAS GROWTH PARTNERS LP
ATLAS RESOURCES OIL & GAS: SER 33v
The BBC News reported on Monday that the price of US oil has turned negative for the first time in history which means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May. Demand for oil has all but dried up as lockdowns across the world have kept people inside due to the COVID 19 virus. The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, fell as low as minus $37.63 a barrel. In the United States and other countries, oil-producing businesses have made commercial decisions to cut output. But still the world has more crude oil than it can use.
Broker/dealers and investment advisors must get more aggressive in protecting investors in companies such as ATLAS GROWTH PARTNERS LP. They need to restrict who can buy and sell these volatile investments. According to the NY Times, several sources at investment banks say they have not included such restrictions, but smaller companies have done so. Oil is not for everyone. Oil is more of a “hands-on” investment strategy that typically requires when to buy and sell.
Dozens of oil and gas companies eventually filed Chapter 11 including, ATLAS GROWTH PARTNERS LP and some of its affiliates, after energy prices began dropping in 2014. Many of our clients which we handled in the oil and gas decline came from broker/dealers that did not take into account the risk nature of our clients’ portfolios. Also, the broker or financial advisor is required to explain these risks to the client after they have conducted the proper due diligence on the investment.
Oil and Gas companies such as ATLAS GROWTH PARTNERS LP and ATLAS RESOURCES OIL & GAS: SER 33v are high risk and complex investments for the conservative investor. It is however, a high-commission investment for the broker which may lead some brokers to encourage their clients to purchase these 7-10% commissioned products.
If you’ve lost your oil and gas investments due to your broker/dealer or financial advisors’ recommendations, particularly in ATLAS GROWTH PARTNERS LP and ATLAS RESOURCES OIL & GAS: SER 33v, contact Soreide Law Group, a law firm with extensive experience in oil and gas stock cases, and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.
Summit Brokerage and Independent Financial Group each appear on a pending customer claim naming Gilbert Conrad (CRD 2746778). Both claims are unproven allegations. His BrokerCheck report also lists settled disputes at Arkadios Capital and Independent Financial Group.
On August 6, 2026, a customer filed a $400,000 FINRA arbitration naming Chad McQuade (CRD 5436281) and Northwestern Mutual. The claim involves outside, third-party real estate investments. It is pending, and McQuade disputes it in a written response.
Christopher Miller (CRD 4044818) has a customer dispute on BrokerCheck that settled on October 7, 2026 for $50,901. The disclosure lists Emerson Equity as the firm.
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