Investment fraud lawyers currently are investigating potential claims on behalf of investors who suffered significant losses as a result of their investment in a Mountain V Oil and Gas investment, or other similar investments. In many cases, broker-dealers improperly recommended these risky investments to clients for whom the investment was unsuitable.
Mountain V’s headquarters are in Bridgeport, West Virginia. Steve and Mike Shaver founded Mountain V Oil & Gas Inc. in March of 1994. It was founded in order to acquire and develop gas and oil reserves located in the Appalachian Basin.
According to investment fraud lawyers, oil and gas investments are not suitable for unsophisticated investors because of the substantial risks involved. These investments should only be recommended to sophisticated investors.
Financial Industry Regulatory Authority rules have established that firms have an obligation to fully disclose all the risks of a given investment when making recommendations, and those recommendations must be suitable for the individual investor receiving the recommendation given their age, investment objectives and risk tolerance. Furthermore, brokerage firms must, before approving an investment’s sale to a customer, conduct a reasonable investigation of the securities and issuer.
Given what is known about this investment, securities arbitration lawyers believe that many firms recommended Mountain V, and other similar oil and gas partnership investments, to their clients without performing the necessary due diligence. As a result, many investors were unsuitable recommended oil and gas partnership investments.
If you suffered significant losses as a result of your investment in an oil and gas partnership investment such as Mountain V, and these investments were unsuitable for your risk tolerance and investment objectives, you may be able to recover losses through securities arbitration. To find out more about your legal rights and options, contact a securities arbitration lawyer at The Law Office of Christopher J. Gray at (866) 966-9598 for a no-cost, confidential consultation.