Did You Lose Money in the Oil and Gas Sector with J.J.B. Hilliard, W.L. Lyons, LLC Financial Advisor William Wobbe?
Posted on Wednesday, May 9th, 2018 at 1:38 pm
Erez Law is interested in speaking with investors who may have suffered losses due to investments with J.J.B. Hilliard, W.L. Lyons, LLC financial advisor William Wobbe (CRD# 2620880) who is alleged to engage in unauthorized trading and unsuitability of investment recommendations in the high risk oil and gas sector. Wobbe has been registered with J.J.B. Hilliard, W.L. Lyons, LLC in Louisville, Kentucky since 1995.
Over the past few years, oil prices have significantly declined. A supply glut in 2014 and 2015 led to some of the lowest prices the market has seen in recent years. In turn, securities values also dropped, including the values of Linn Energy and many others. The volatile energy sector experienced significant turmoil, and many energy companies were negatively impacted when global crude oil prices fell below $40 per barrel at the end of 2015. This was the lowest level since early 2009, as supply was in excess of global demand. Oil and gas companies experienced a spike in bankruptcies, which have left many investors reeling.
Wobbe has been the subject of one customer complaint, according to his CRD report:
March 2018. “Claimants allege unauthorized trading and violation of suitability rules with regard to certain securities from 2014-2016.” The customer is seeking $330,713.07 in damages and the case is currently pending.
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, J.J.B. Hilliard, W.L. Lyons, LLC may be liable for investment or other losses suffered by Wobbe’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.