On July 21, 2014, California officials said a $20.4 million judgment was obtained against Synergy Oil LLC, a Newport Beach firm, and company manager, Robert Falco, for fraudulently marketing oil and gas investments. The judgment was ordered in late June in Orange County Superior Court. The judge ordered the defendants to return the money clients had invested, and pay a $6.6 million fine. The judgment also said that Synergy and Falco violated a 2011 “desist and refrain” order which was issued by the state.
The State of California sued Synergy Oil LLC and Robert Falco in 2012. They alleged that 265 clients from around the country were conned into investing $13 million in oil and gas exploration deals.
If your broker/financial advisor recommended the purchase of Synergy Oil stock, or you have experienced a loss through risky oil and gas stocks, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses. To speak with an attorney, call 888-760-6552. Soreide Law Group has represented clients nationwide.
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