Shepherd Smith Edwards and Kantas Alternative Investment Loss Attorneys Investigate Resolute/PetroRock Investments
Sanford & Bernstein Broker Devin Patel And Other Financial Advisors Allegedly Unsuitably Sold Oil and Gas Investments
Our financial advisor fraud lawyers are looking into losses involving Resolute/Petrorock investments. We believe that retail investors, many of whom were at retirement age, may have been unsuitably marketed over $250M of these unregistered equity and debt securities, including oil and gas investments.
Issued by PetroRock Mineral Holdings, Resolute Capital Partners, and Homebound Resources, Resolute/PetroRock investments were allegedly misrepresented as low-risk and income-producing while offering unique tax benefits. Instead, there are growing concerns about investor losses.
Here is a list of the Resolute/Petrorock Investments that were sold to retail investors:
- Strategic Energy Assets III
- Strategic Energy Assets IV
- Strategic Energy Assets V
- Strategic Energy Assets VI
- Strategic Energy Assets VII
- Strategic Energy Assets VIII
- Advantage Capital Holdings I
- Legacy Energy I
- Legacy Energy II
- PetroRock Mineral Holdings Lenders Fund I
- PetroRock Mineral Holdings Lenders Fund II
- PetroRock Mineral Holdings Lenders Fund III
- PetroRock Mineral Holdings Lenders Fund IV
- Choice Energy Fund I
- Choice Energy Fund II
- Choice Energy Fund III
A few of the financial and investment advisers under scrutiny for allegedly investigating Resolute/Petrorock Investments:
- Sanford & Bernstein broker Devin Patel, who was a former investment adviser for Financial Gravity
- Hidden Wealth Solutions investment adviser Charles “Chuck” Oliver
- Ex-Growth Capital Securities and Wealth Forge Securities broker Christopher Lynn Most
- Former Vanderbilt Securities broker Kurt Berry
- Ex-Allstate Financial Services broker Jason Jodway
If you suffered serious investment losses after being unsuitably marketed and sold any Resolute/Petrorock Investments, contact Shepherd Smith Edwards and Kantas Alternative Investment Loss Attorneys (investorlawyers.com) today to request your free, no-obligation case assessment.
In 2021, the US Securities and Exchange Commission (SEC) announced an enforcement action against Resolute, Homebound, and two individuals for alleged misrepresentations and omissions involving unregistered oil and gas securities offerings. More than $250M of debt and equity securities were purportedly sold to retail customers. The respondents were ordered to pay $600K.
Unregistered securities offerings, especially ones involving oil and gas investments, tend to be high-risk. They are unsuitable for retail investors, including conservative retirees. The fact that these investments were unregistered likely also meant that they were unregulated, lacking in transparency, and highly illiquid.
If your financial advisor marketed and sold you Resolute/Petrorock Investments and you sustained serious investment losses, you may have grounds for an investor claim. Even if the brokerage firm involved wasn’t aware that one of their registered representatives was selling away any of these investments without their authorization or permission, you still may be able to hold them liable.
Why You Need To Hire Seasoned Alternative Investment Loss Attorneys
Pursuing damages from a broker-dealer for negligence, unsuitability, misrepresentations, selling away, concentration, failure to supervise, or any type of broker misconduct or fraud is never easy. Your best chance for financial recovery is to retain knowledgeable alternative investment fraud lawyers that know how to build a solid investor lawsuit on your behalf.
Shepherd Smith Edwards and Kantas have been representing oil and gas investors and other kinds of alternative investment investors for over 30 years. We have the knowledge, experience, and resources to pursue even the most complex kinds of investment loss lawsuits against the largest broker-dealers and investment advisers. More than 90% of our clients have received full or partial financial recovery.
Call our team of Alternative Investment Loss Attorneys at (800) 259-9010 or fill out this form.