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Gary Menzer, Esq. is a Founding Partner with The Securities Law Firm of Menzer & Hill, P.A. The Firm represents aggrieved investors that have sustained investment losses due to the negligence of their stock broker or financial advisor and the failure to supervise by their Broker-Dealer. The... More
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Menzer & HIll, P.A.
  • Reef Oil & Gas Income & Development Fund Recovery 0 comments
    Jul 26, 2013 4:56 PM

    Many investors have sustained significant losses investing in Reef Oil & Gas Income & Development Funds ("Reef Funds"). Upon information and belief, Reef is dissolving the partnership. The Reef Funds were solicited as oil and gas private placements through many Brokerage Firms. Private Placements in general contain substantial risks, especially those involving oil and gas.

    Under FINRA rules and regulations, Broker-Dealers have a responsibility to not only disclose all the risks associated with investing in risky private placements, but also to make sure the investor meets stringent financial requirements and understands all risks involved. Broker-Dealers may be held liable for investor losses if they failed to adequately explain the aforementioned risks.

    According to The Securities Law Firm of Menzer & Hill, P.A., more and more broker-dealers are turning to private placements because they tend to be the most profitable investment products the Firms offer. In many situations, brokers are selling the private placements as alternatives to the risks involved with the stock market, when in actuality, many private placements are much riskier.

    Fortunately for those investors that invested in the Reef Funds may have recourse through a FINRA arbitration if they were purchased through a brokerage firm.

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