Sabine Oil and Gas (symbol: SOGCQ) has declared bankruptcy.

 
The September 23, 2016 form 8937 filing (Report of Organizational Actions Affecting Basis of Securities) states in part 2 that “By order of the bankruptcy court, the common stock held by the Sabine shareholders were cancelled for no consideration.”  The company itself has filed bankruptcy to limit liability.  Soreide Law Group is investigating stock brokers who sold this investment and other risky investments.  Any broker who held this stock for a client and watched it go to $0 with no downside protection or risk strategy may be liable for losses.
Sabine Oil and Gas was primarily located in Texas and North Louisiana.  We have found that many local Texas stock brokers over concentrated their clients assets in risky oil and gas stocks like Sabine Oil & Gas Corp. to gamble with the client’s money hoping for upside and possibly receiving high commissions.  Sabine’s restructuring only was aimed towards debt holders, not the equity holders.  There is no hope for the stock to come back in price for the common stock holder.  Light crude oil prices went from $105 in 2014 to the $40’s in 2016 when Sabine declared bankruptcy.  If your stock broker did nothing to limit your losses in oil and gas investments during this time they may have liability for your losses.

If you or a loved one had a stock broker who recommended Sabine Oil and Gas Corp please call Soreide Law Group for a free consultation.  Soreide Law Group will study your case for free and determine what the broker liability may be.  Soreide Law Group files cases in all 50 states before FINRA.  If Soreide Law Group takes your case they will advance all costs and only get paid if you make a monetary gain.  https://www.securitieslawyer.com or call 1-888-760-6552