Did You Lose Money In Vanguard Natural Resources?
Posted on Tuesday, March 14th, 2017 at 9:42 am
Erez Law is investigating multiple customer complaints against UBS Financial Services for improper sales practices by UBS financial advisors in the sale of Vanguard Natural Resources. Vanguard Natural Resources is a publicly traded limited liability company focused on the acquisition, production and development of oil and natural gas properties.
Vanguard Natural Resources and other oil and gas companies have experienced price fluctuations over the past few years, which has put financial stress on the oil and gas industry. 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 value of Vanguard Natural Resources. While financial advisers can effectively coax clients into lucrative high risk, high yield investments in the oil and gas industry, some fail to fully inform their clients of the inherent risks.
The distribution value of Vanguard Natural kept steady in 2013 at $2.47 and then $2.52 in 2014, however it took a nosedive in 2015 dropping to just $1.24, according to the company website. In 2016, the value was at $.09 and as of March 2017 it currently sits at $.08. As of February 2017, Vanguard Natural Resources filed for relief under Chapter 11 of the U.S. Bankruptcy Code, and has entered into a restructuring agreement, according to a statement on their website.
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, UBS and other brokerage firms may be liable for investment or other losses suffered as of results of investments in Vanguard Natural Resources.
Erez Law represents investors in the United States for complaints against UBS Financial Services for improper sales practices by UBS financial advisors in the sale of Vanguard Natural Resources. If you were a client of UBS Financial Services, Inc. or another brokerage firm and have experienced investment losses as a result of Vanguard Natural Resources, 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.Disclaimer: Clients are responsible for costs. Contingency fee is calculated before deducting costs incurred in the case.