The White Law Group is investigating the liability that brokerage firms may have for improperly selling oil and gas private placements like Atlas Resources Series 28-2010 L.P.
Many oil and gas LPs have high expense ratios, and due to the decline in the overall health of the oil and gas market, are suffering. Some are on the brink of default, or worse yet, bankruptcy. Such an outcome is extreme, but not unforeseen. It only highlights the unsuitability of these investments for most retail investors - particularly in large concentrations.
The firm has handled a number of claims involving Atlas. In those claims, the firm has alleged, among other things, that the Atlas investments were (1) high-risk and unsuitable for our clients given their financial situation, needs and investment objectives, (2) that the risks of the investment were not fully disclosed to them, and (3) that the brokerage firms that sold the investments failed to conduct the proper due diligence with respect to the Atlas investments (as the firms are required to do by FINRA Rules).
Unfortunately, some brokers may have downplayed the risks associated with these limited partnerships. They have misled investors into thinking that they are “safe” investment products.
The high sales commission brokers earned for selling such products may provide some brokers with enough incentive to push the product to unsuspecting investors. Your typical stock or mutual fund offers 1%-2% commission. The commission for limited partnerships like Atlas, are often 7% - 10%.
If a broker misleads a client or makes unsuitable investment recommendations they can be liable for investment losses.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Atlas Resources Series 28-2010 L.P., please contact The White Law Group at 1-888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm. The firm has offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, please visit our website at www.whitesecuritieslaw.com.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.