The White Law Group continues to investigate potential FINRA arbitration claims against the brokerage firms or financial professionals that recommended Reef Oil and Gas private placement investments to investors. Based on the firm's investigation thus far, it appears that many brokerage firms that sold these investments understated or misrepresented the risks.
Oil and gas partnerships involve inherent risks that make them unsuitable investments for many investors.
Prior to making any investment recommendations, brokerage firms are required to disclose all the risks of an investment. They are also required to make sure any investment recommendation is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance.
Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through securities arbitration.
Reef Oil and Gas L.P. was founded in 1987. According to its website, the company strives to develop, exploit, and produce oil and natural gas properties and operate wells drilled. The company is currently based in Richardson, Texas and has offered numerous public and private partnerships over the years.
The White Law Group is investigating potential claims involving the following Reef Oil and Gas offerings (among others):
Reef SWD 2007-A LP
Reef 2007-2009 Drilling Program
Reef Global Energy Ventures II
Reef Global Energy VI, L.P.
Reef Global Energy VII, L.P.
Reef Global Energy VIII, LP.
Reef Global Energy IX, L.P.
Reef Oil & Gas Income & Development Fund, L.P.
Reef Oil & Gas Income & Development Fund III, L.P.
Reef Oil & Gas Income & Development Fund IV, L.P.
Reef Oil & Gas Income Fund IX, L.P.
Reef Private Drilling Venture 2006-IV Joint Venture
Reef 2010 Drilling Fund, L.P. (formally Reef 2009 Drilling Fund, L.P.)
For more information on The White Law Group's Reef Oil and Gas investigation, visit http://www.whitesecuritieslaw.com/2013/02/08/update-on-securities-fraud-investigation-involving-reef-oil-and-gas-investments/.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida. For a free consultation with a securities attorney with The White Law Group, please call 312/238-9650.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.