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November 30, 2017
FINRA Orders Former Morgan Stanley Broker, TIMOTHY THOMAS GIBBONS, to Pay Restitution to 5 Elderly Clients

On November 17, 2017, the Financial Industry Regulatory Authority (FINRA) fined former Morgan Stanley registered representative, TIMOTHY THOMAS GIBBONS (CRD#: 219872), $20,000, suspended him for 18 months, and required him to pay approximately $717,000 in restitution to five elderly clients. Gibbons allegedly over-concentrated the clients' accounts in a single high-risk energy sector security. According to […]

November 14, 2017
ExGen Texas Power (EGTP) Holdings LLC and ExGen Texas Power LLC File for Chapter 11 Bankruptcy

Exelon Corp. announced on November 7, 2017, that its Texas subsidiary ExGen Texas Power (EGTP) Holdings LLC and ExGen Texas Power LLC filed for Chapter 11 bankruptcy with hopes of reducing debt at the companies. Exelon Corp has hired a debt restructuring adviser to help evaluate options for its merchant power plant subsidiary ExGen Texas Power LLC. The move comes […]

November 8, 2017
Did Your Broker Recommend Adageo Energy Partners LP?

Did your broker or financial advisor recommend investing  in Adageo Energy Partners LP?  Soreide Law Group may be able to recover your losses through a FINRA arbitration. FINRA requires broker/dealers to conduct due diligence and suitability when recommending securities to their clients. Broker/dealers that fail to conduct adequate due diligence, or make unsuitable recommendations, taking […]

October 19, 2017
Soreide Law Group Files FINRA Arbitration on Behalf of Clients Against RAYMOND JAMES FINANCIAL SERVICES, INC.

Soreide Law Group has filed a FINRA arbitration on behalf of their clients (Claimants) against:  RAYMOND JAMES FINANCIAL SERVICES, INC.   The Claimants, a retired, married couple from New Jersey, relied on Kenneth Joseph Fitzpatrick CRD# 1850858, who was an employee and registered representative of RAYMOND JAMES, to manage their money through retirement. The Claimants […]

August 4, 2017
Did Your Broker Recommend Miller Energy?

Miller Energy Resources Inc., an oil and gas driller that operates in Alaska, filed for bankruptcy protection on October 1, 2015. The filing came after the U.S. Securities and Exchange Commission (SEC) charged the company and three officials of allegedly inflating the value of the company's Alaska oil and gas properties by $400 million. Miller […]

April 13, 2017
Will SeaDrill Limited (SDRL) be the Next Energy-Related Company to File Bankruptcy?

Did your broker over-concentrate your portfolio in: SeaDrill Limited (SDRL) 52 Week Range 0.65 - 5.21 During the days when oil was at an all-time high, energy companies like Seadrill piled on debt so they could expand around the globe. Now, many of these same companies are facing bankruptcy and many banks are dealing with […]

March 21, 2017
Investor Awarded $357,000 from Wells Fargo Advisors for Unsuitable Investments

On March 9, 2017, an investor won a $357,000 arbitration award against Wells Fargo Advisors for unsuitable energy and housing investments.  The investor claimed; fraud, negligent misrepresentation, breach of fiduciary duty and negligent supervision, among other causes. The panel awarded the investor $357,000 in compensatory damages plus 8.75% interest from March 25, 2016, until March […]

March 8, 2017
Did Your Broker Recommend BP Prudhoe Bay Royalty Trust (BPT)?

Soreide Law Group is currently investigating claims on behalf of clients whose brokers recommended a high concentration of BP Prudhoe Bay Royalty (BPT). Many of these investors were recommended by their brokers that they invest heavily in this oil stock. These investors watched as the price of crude oil plummeted along with their investments, and […]

January 30, 2017
Soreide Law Group Files Lawsuit Against Edward Jones For Failure to Supervise Due to Allegations of Over-Concentration of High-Risk Oil Stocks

Soreide Law Group recently filed a lawsuit on behalf of their clients against EDWARD D. JONES & CO. for failing to supervise broker, Kristopher Lee McKoin of Bastrop, Louisiana. The Claimants, a couple from Louisiana who are both in their 70’s, were looking to maintain a conservative portfolio with the primary goal being to preserve […]

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