The White Law Group Files FINRA Claim Against David Lerner Associates, Inc. Involving Energy Resources 12 LP
October 6, 2025 — Stamford, Connecticut — The White Law Group announces the filing of a FINRA arbitration claim against David Lerner Associates, Inc. (CRD# 5397) on behalf of a Connecticut investor. The claim involves losses in Energy Resources 12 LP, an oil and gas private placement investment that was allegedly unsuitable for the client.
The claimant, a resident of Stamford, Connecticut, is seeking damages estimated between $100,000 and $350,000. The Statement of Claim alleges that David Lerner Associates and its broker Rafael Scott Klein (CRD#: 2865823) failed to adequately disclose the risks of investing in Energy Resources 12 LP. According to FINRA BrokerCheck, Klein has five customer complaints disclosed on his record.
Risks of Oil and Gas Private Placements
Energy-related private placements, such as Energy Resources 12 LP, are often illiquid, high-risk investments that may be unsuitable for many retail investors. These offerings typically lack transparency, charge high fees, and are difficult to value or resell. FINRA and the SEC have repeatedly issued investor alerts regarding the risks of these types of alternative investments.
“Broker-dealers have a duty to conduct reasonable due diligence and ensure that investment recommendations are suitable for their clients based on their financial situation, risk tolerance, and investment objectives,” said Dax White, Managing Partner of The White Law Group. “When firms fail in these responsibilities, investors may be able to recover their losses through FINRA arbitration.”
FINRA Arbitration vs. Class Action Lawsuits
Investors who suffer losses due to unsuitable investment recommendations generally cannot pursue class action lawsuits against brokerage firms. Instead, most disputes are handled through FINRA arbitration, the forum designated for resolving conflicts between investors and brokerage firms. Unlike a class action, where recovery is divided among a group of plaintiffs, FINRA arbitration allows an individual investor to pursue a claim tailored to their own financial harm.
Recovery of Investment Losses
If you invested in Energy Resources 12 LP or another oil and gas private placement through David Lerner Associates, Inc., you may have claims to recover your investment losses. The White Law Group is currently investigating and filing claims involving David Lerner Associates and unsuitable private placement recommendations nationwide.
Free Consultation
To speak with a securities attorney about your investment losses, please contact The White Law Group at (888) 637-5510 for a free consultation.
For more information, visit our website: www.whitesecuritieslaw.com
Last modified: October 7, 2025
