Past Fraud Investigations

SandRidge Energy Investment Losses

Oil company SandRidge Energy shares have fallen from a price of more than $7.00 in May 2014 to less than $0.10 May 2016. SandRidge is having trouble managing nearly $4 billion of debt, has been cutting its workforce, and its future is uncertain as oil prices remain low. The stock was delisted from the New York Stock Exchange in January 2016 for “abnormally low” trading price levels. SandRidge now trades on the OTC (OTCMKTS: SDOC). If your broker misrepresented SandRidge as a low-risk, income investment or over-concentrated your account in SandRidge or other oil and gas companies, you may have a valid FINRA arbitration claim to recover your losses. Contact a DKR stockbroker negligence lawyer to discuss your rights.

Vanguard Natural Resources Investment Losses

Vanguard Natural Resources investments have lost approximately 80% of their value as the oil and gas sector has declined. Vanguard (symbols: VNR, VNRAP, VNRBP, or VNRCP ) acquires and develops oil and natural gas properties in the United States. Some brokers may have misrepresented Vanguard as a safe, income-producing investment when it actually subjected investors to much greater risk. If you suffered Vanguard Natural Resources investment losses at UBS, Morgan Stanley, Barclays, Stifel, Credit Suisse, BB&T, J.P. Morgan, Janney Montgomery, Oppenheimer, Ladenburg Thalmann, or any other brokerage firm you may be able to recover your losses through a FINRA arbitration claim. DKR has a national reputation representing investment fraud and stockbroker negligence victims. Call one of our securities lawyers for a free case evaluation.

Linn Energy Investment Losses

Linn Energy (NASDAQ:LINE) is an oil and natural gas company headquartered in Houston, Texas. Linn suspended its distribution payout to investors in October 2015 and its share price has fallen from nearly $40.00 in late 2012 to only $0.33 as of May 2016. From May 2015 to May 2016 alone, its share price has dropped from nearly $15.00 to only $0.33. There is concern about Linn’s ability to remain in business after the company announced that it does not expect to remain in compliance with the terms of hundreds of millions of dollars of loans that it has taken. Some brokers sold Linn Energy to retirees and others as a safe, income-producing investment and other brokers over-concentrated client accounts in Linn and other oil and gas investments. If you received unsuitable investment advice or your broker misrepresented the risk of Linn Energy or other oil and gas investments you likely have a valid FINRA arbitration claim to recover your investment losses. DKR already has filed FINRA claims on behalf of investors who suffered Linn losses. If you suffered Linn Energy investment losses call our investment fraud lawyers at 888-578-6255 for a free case evaluation.

Breitburn Energy Investment Losses

DKR has filed FINRA arbitration claims to recover Breitburn Energy LP (NASDAQ: BBEP ) and other oil and gas investment losses on behalf of investors. Breitburn Energy Partners LP is an oil and gas master limited partnership (MLP). Its stock has dropped from a high of about $22 in August 2014 all the way down to $0.31 in May 2016. As with many oil and gas companies, Breitburn borrowed millions of dollars to fund its business. The recent decline in oil and gas prices may make Breitburn unable to make its loan payments and likely will greatly impact its ability to pay distributions to investors. Investors who were sold BBEP as a safe, income-producing investment would have been misled, especially if their accounts were over-concentrated in Breitburn and other oil and gas MLPs. Call our investment fraud lawyers for a free case evaluation.

United Development Funding I, III, IV & V

The FBI recently raided United Development Funding’s (UDF) Texas office and the Securities & Exchange Commission (SEC) is investigating UDF for potential illegal Ponzi scheme activity. UDF is a real estate investment company that purportedly invested in residential real estate projects predominantly in Texas. UDF is accused of using new investor money to fund earlier UDF companies, allowing those prior companies to pay earlier investors. Many alleged development sites, which serve as collateral to UDF development loans, remain raw, undeveloped land 2, 3, 5 (as much as 10) years after loans were issued. As a result of the Ponzi allegations, UDF IV shares prices have fallen drastically. Brokerage firm that sold UDF securities were obligated to perform adequate due diligence on UDF before recommending UDF to you and also to fully and fairly disclose the investment risks to you. If you suffered United Development Funding losses, you may have certain legal rights to help you recover your UDF losses.

LPL Financial Sales of Leveraged ETFs

Massachusetts regulators recently fined LPL $1.8 million for marketing and selling risky, leveraged ETFs to retail investors, as well as failing to properly supervising investors’ leveraged ETF investments. The leveraged ETFs, Pro Shares Ultra S&P 500 ETF and the Pro Shares Ultra Silver ETFs, are designed to be bought and held for only short periods of time, but many retail brokers do not understand leveraged ETFs and fail to inform their customers of the nature and risk of leveraged ETFs. Due to their risk and complexity, leveraged ETFs may be unsuitable for retail investors. As a result, many brokerage firms prohibit the sale of leveraged ETFs to retail investors. If you or anyone you know lost money in leveraged ETFs, contact a DKR investment fraud lawyer for a free consultation.

UBS Puerto Rico Bond Fund Losses

DKR represents more than 100 Puerto Rico residents who have lost a significant amount of money in UBS Puerto Rico closed-end bond funds. UBS PR recommended over-concentrated positions in the UBS PR funds and even recommended that some investors borrow money to buy these risky, leveraged funds or use the risky UBS PR funds as collateral for loans. Investors who suffered UBS Puerto Rico bond fund losses may be able to recover their losses through a FINRA arbitration proceeding. Please contact Dimond Kaplan & Rothstein, P.A. attorney Jeffrey B. Kaplan at (888) 578-6255. 

Virtus AlphaSector Funds and F-Squared Investments

Investors in Virtus AlphaSector funds or any funds utilizing F-Squared Investment’s algorithm may have a claim to recover their investment losses. F-Squared agreed to pay $35 million to settle SEC claims that it defrauded investors and it admitted that it misled investors by claiming a successful seven-year track record for its strategy. In truth, its AlphaSector algorithm did not even exist during the prior seven years. Virtus and F-Squared-related funds were marketed and sold by many brokerage firms including, but not limited to: Ameriprise, AssetMark, Ausdal Financial Partners, LPL Financial, RBC Wealth Management, Raymond James, Charles Schwab, Stifel Nicolaus, UBS Financial Services, and Wells Fargo Advisors. These firms may not have performed sufficient due diligence of the Virtus or F-Squared products before recommending them to investors. If you lost money in a Virtus AlphaSector fund or F-Squared product contact an investment fraud lawyer at DKR to discuss your rights.

Puerto Rico Conservation Trust Fund and Other Puerto Rico Investment Losses

Puerto Rican residents who invested in Puerto Rico Conservation Trust Fund notes, Lehman Brothers “principal protection” notes, and RG Financial, Western Bank, and First Bank preferred shares may be able to recover their investment losses. Brokerage firms, such as UBS Financial Services, Inc. of Puerto Rico, Santander Securities, Popular Securities, and Oriental sold many of these securities as safe and secure investments. But the securities oftentimes were more risky than they were represented to be and the securities often comprised an unsuitably large concentration of investors’ brokerage accounts. Puerto Rican residents, including investors from Hato Rey, Bayamón, Ponce, San Juan, Isabela, Rincón, and Mayaguez, who lost money in these investments may be able to recover their losses through FINRA arbitration. To discuss the recovery of your investment losses, call a Spanish-speaking securities lawyer at Dimond Kaplan & Rothstein, P.A. at (888) 578-6255.

UBS Sales of V10 Enhanced FX Carry Strategy and Other Forex/Currency Transactions

DKR is investigating UBS Financial Services’ recommendations of currency and Forex products, including the UBS V10 Enhanced FX Carry Strategy. The V10 product was pitched to individual and institutional investors, including hedge funds and pension funds, as a high-yielding foreign-exchange investment that used computer algorithms to minimize the risk of losses in periods of volatility. The product has not performed as advertised, however, and investors have lost a significant amount of money. DKR is investigating whether UBS misled investors in the marketing and selling of the highly complex V10 product. DKR also is investigating UBS, Barclays, and other broker-dealers’ recommendations of foreign currency carry trade strategies. If you lost money in the UBS V10 product or in other foreign-currency transactions, including those involving the Swiss Franc or the Japanese Yen, Please contact Dimond Kaplan & Rothstein, P.A. attorney Jeffrey B. Kaplan at (888) 578-6255, (305) 374-1920, or jkaplan@dkrpa.com.

Deutsche Bank Sales of Glanmore Property Fund Limited

DKR represents a number of investors who lost money in the Glanmore Property Fund Limited, which Deutsche Bank recommended and sold the fund to wealthy investors in Mexico, Central America, and South America. Glanmore invested in United Kingdom commercial properties and was managed by Tilney, an investment management firm owned by Deutsche Bank. We believe that Deutsche Bank misrepresented the safety of Glanmore and provided inflated and inaccurate pricing information to investors. DKR is not pursuing claims against the individual brokers and advisors who sold Glanmore. Rather, DKR is pursuing claims against Deutsche Bank relating to the manner in which Deutsche Bank marketed Glanmore to investors. If you lost money in the Glanmore fund, we encourage you to contact Dimond Kaplan & Rothstein, P.A. for a free consultation about your rights and how DKR may be able to help you recover your investment losses. Our lawyers speak English, Spanish, and Portuguese.