Securities Lawyer, Lars Soreide, Esq., of Soreide Law Group, was recently quoted in an article from the New York-based “FinancialPlanning” regarding recent FINRA arbitrations filed on behalf of clients against financial advisor, George Merhoff, Jr., and the firm Cetera Advisors LLC, of Denver, Colorado, for Merhoff allegedly selling oil and gas investments in large concentrations […]

Nearly 80 energy-related companies have filed for bankruptcy since 2015 due to the plummeting prices of crude oil.  Soreide Law Group continues to hear from a growing list of investors whose brokers recommended a high-concentration of risky oil and gas stocks for their conservative portfolios causing devastating losses to their, in many cases, retirement portfolios. […]

In a recent article in Reuters, they state that analysts at Wells Fargo Securities wrote that oil prices below $40 per barrel are not sustainable for most producers and high cost structures are expected to push more oil producers into restructurings or bankruptcies in the next 12-18 months. Call Our Securities Lawyers To File Your Claim […]

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 […]

The following summation of information is available on FINRA's Website under “Disciplinary and Other FINRA Actions, April, 2014.” Jeffrey Robert Alexander (CRD #5387133, Registered Representative, Colorado Springs, Colorado) was fined $5,000 and suspended by FINRA for three months. Alexander allegedly recommended investors purchase interests in an oil and gas program to fund the drilling of […]

Ridgewood Energy Corporation, of Ridgewood, New Jersey, manages private investment funds that develop and drill oil and gas projects located in the United States waters in the Gulf of Mexico. Many broker/dealers have sold Ridgewood Funds to their clients without conducting the a proper suitability analysis for such investments. These funds were not suitable for […]

On December 16, 2013, the SEC filed a complaint against Leon Ali Parvizian and his two companies, Arcturus Corporation and Aschere Energy LLC, alleging that they fraudulently offered and sold securities "in the form of interests in oil and gas joint ventures." Also, promoters Alfredo Gonzalez, AMG Energy, LLC , Robert Balunas, and R. Thomas […]

On December 16, 2013, the SEC filed a complaint against Leon Ali Parvizian and his two companies, Arcturus Corporation and Aschere Energy LLC, alleging that they fraudulently offered and sold securities "in the form of interests in oil and gas joint ventures." Also, promoters Alfredo Gonzalez, AMG Energy, LLC , Robert Balunas, and R. Thomas […]

There were allegations filed with the Financial Industry Regulatory Authority or FINRA Dispute Resolution, which state that a broker-dealer with AXA Advisors in Orange County, California, persuaded a retired couple, and a retired woman, to invest in essentially worthless and inappropriate investments. This alleged Ponzi scheme preyed on retired Filipino-Americans. The clients allege that the […]