Soreide Law Group Files FINRA Arbitration Against UBS and Broker Due to Losses in Oil Investments

Soreide Law Group recently filed a FINRA arbitration against UBS for oil investment losses.

The 52 year-old Claimant from New York, alleges that the master limited partnerships "MLPs" and other oil and gas related investments were inappropriate for him. The Claimant also named his UBS broker in the lawsuit.

Under the management of his UBS broker, the Claimant’s account was placed into oil and gas related stocks, and master limited partnerships “MLPs” with no hedging strategy. These stocks and MLPs, all having sustained devastating losses, include but are not limited to: Buckeye Partners, Chenier, Energy, Enbridge Energy, Energy Transfer Partners, Magellan Midstream Partners, Markwest Energy Partners, Plains All Amer Pipeline, Sunoco Logistics Partners, TallGrass Energy Partners, Tagra Resources Partners, Western Gas Partners, Williams Partners.

The Claimant alleges damages of approximately $170,000.00. The causes of action relating to the oil investment losses are negligence, breach of fiduciary duty, negligent supervision, and breach of contract.

Many of these oil and gas investments have now gone bankrupt and investors are left with few options other than to bring a lawsuit through FINRA against the firms that sold the investments to them.

If you were a client of UBS and suffered similar losses in high risk oil and gas investments, call Soreide Law Group for a no-cost consultation with an attorney at: 888-760-6552.

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