Erez Law is currently investigating David Lerner Associates, Inc. broker Glenn Werner (CRD# 6118112) regarding Energy 11 investment losses. Werner has been registered with David Lerner Associates, Inc. in Syosset, New York since 2013.
Energy 11, LP is a public non-traded limited partnership that was formed to acquire and develop oil and natural gas properties throughout the United States. Energy 11, LP has raised more than $350 million and has invested the proceeds in non-operated working interests in approximately 221 existing producing wells and approximately 247 future development locations in the Sanish field located in Mountrail County, North Dakota, according to its website. Energy 11, LP is not publicly traded and has limited liquidity.
Werner has been the subject of one customer complaint, according to his CRD report:
October 2020. “unsuitability, misrepresentation/omission, breach of fiduciary duty.” The customer is seeking $250,000 in damages and the case is currently pending. The complaint was regarding mutual funds and private placements including Energy 11.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, David Lerner Associates, Inc. may be liable for investment or other losses suffered by Werner’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.