We are investigating investor losses in Swift Energy Company. If this investment was recommended to you by your stock broker or financial advisor they may hold liability for your losses.
Swift Energy Company filed chapter 11 on Dec 31, 2015. It traded under symbol SWFT (OTCQX: SWTF). Most of the restructuring focused on securing payments to debtholders. Those with a stock interest were given pro rata share of common stock in reorganized Swift equal to 4% on a fully diluted basis. This basically left common stockholders holding the bag and common stockholders were more or less wiped out.
February 2, 2016 the court approved that the company could sell off their Louisiana assets to Texegy LLC for $49 million. This was confirmed on March 31, 2016 with the bankruptcy court.
Houston Texas based Swift Energy has reemerged on the NYSE under the new ticker symbol SBOW on May 5th, 2017. The company is now referred to as “SilverBow Resources”. The new stock opened in the low $20’s and is currently $26.
Please contact Soreide Law Group PLLC for a free consultation regarding your loss in Swift Energy Company at 1-888-760-6552.
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