Recovery of Investment Losses – Teekay LNG Partners LP
Have you suffered losses investing in Teekay LNG Partners LP at the advice of your financial advisor? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
Teekay LNG Partners LP is an international provider of marine transportation services for liquefied natural gas (or LNG), liquefied petroleum gas (or LPG) and crude oil. The company was formed in 2004 by Teekay Corporation (NYSE: TK), a portfolio manager of marine services to the global oil and natural gas industries, to expand its operations in the LNG shipping sector, according to its prospectus.
Unfortunately for investors, most oil and gas MLPs are down substantially in the last year. According to reports this week, Teekay’s share price has dropped close to 22% in the past 6 months.
Master Limited Partnerships (MLPs), like Teekay LNG Partners LP, are a type of limited partnership that is publicly traded. MLP’s receive the same tax benefits of a limited partnership combined with the liquidity of a publicly traded security. In order to be classified as an MLP the partnership must receive 90% of its cash flow from a “qualifying source” – such as real estate, natural resources or commodities.
MLPs have increasingly been used to invest in the energy sector and are often sold to investors seeking income. However, MLP’s are extremely complex and risky, making them only suitable for wealthy, sophisticated retail investors or institutional investors. They are also a dream product for Wall Street because of the fees they generate, which may cause unscrupulous financial advisors looking to maximize their own commissions to recommend them improperly.
The White Law Group is investigating the liability that brokerage firms may have for recommending high risk MLPs, like Teekay LNG Partners LP, to their clients.
Brokerage firms that sell oil and gas MLPs are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to evaluate whether the investments are suitable in light of the client’s age, net worth, investment experience, and investment objectives. Firms that fail to perform adequate due diligence, or that make unsuitable recommendations, can be held responsible for losses in a FINRA arbitration claim.
Free Consultation with a Securities Attorney
If you suffered losses investing Teekay LNG Partners LP or another energy MLP and would like to discuss your litigation options, please call The White Law Group at (888)637-5510 for a free consultation.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.
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