Several investors have contacted Soreide Law Group due to devastating losses in the energy-related fund, Spirit of America Energy Fund (SOAEX). This fund was recommended to investors by their broker/dealers or financial advisors, many of whom had specifically stated to their brokers that they wanted to be placed in conservative investments with a solid retirement portfolio as their goal. However, do to the plunge in energy costs, SOAEX has returned -31.94% over the past year. SOAEX has been public since July of 2014 and has lost over 50% of its value since then.
| This fund is described as: “SOAEX seeks to provide investors long-term capital appreciation and current income. The fund seeks to achieve its investment objective by investing at least 80% of its net assets plus any borrowings in a combination of securities and other assets of energy and energy related companies. SOAEX seeks to achieve its investment objective through diversified exposure to U.S. and non-U.S. securities of energy companies and energy related companies which are companies that are principally engaged in activities in the energy industry.” |
If you've suffered investment losses in SOAEX due to your broker or financial advisor's recommendations, call Soreide Law Group for a free consultation with an attorney: 888-760-6552.
The recent Chapter 11 bankruptcy filing by Inspired Healthcare Capital (IHC) has sent shockwaves through the senior living investment community. For many retirees and 1031 exchange participants, what was marketed as a stable, income-producing real estate opportunity has turned into a complex legal battle for recovery. If you invested in an IHC-sponsored Delaware Statutory Trust […]
Soreide Law Group is investigating potential investor claims involving NLCA VA Birmingham Realty DST, particularly where brokers or financial advisors may have improperly recommended this specific Delaware Statutory Trust offering. NLCA VA Birmingham Realty DST is a 1031 exchange investment vehicle that offered investors fractional interests in real estate through a private placement. Although it […]
Investors have reportedly disputed the sales practices of securities broker Nicholas Cross Ignatowski (also known as Nick Ignatowski) [CRD: 2409399, Milwaukee, Wisconsin], based on publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Ignatowski worked for LPL Financial LLC from August 20, 2013, to December 31, 2023. Investors are encouraged to continue reading […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com