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Update: Midstates Petroleum Company Files Chapter 11 Bankruptcy Protection

Have you suffered losses in Midstates Petroleum Company, Inc.? If so, the securities attorneys of The White Law Group may be able to help you.

Midstates Petroleum Company, Inc. is an independent producer focused on oil fields in the Mississippian Lime play in Oklahoma and the Anadarko basin in Texas and Oklahoma. It also has operations in the Upper Gulf Coast Tertiary trend of central Louisiana.

The company issued debt to raise capital for its ventures, including the Midstates Petroleum Company Inc. 10.75% 10/1/2020 bonds.

High-yield bonds—also called non-investment-grade bonds, speculative-grade bonds, or junk bonds—are bonds that are rated below investment grade, typically ‘BB’ or lower by Standard & Poor’s and ‘Ba’ or lower by Moody’s. They pay high yields to bondholders because the borrowers credit ratings are less than pristine, making it difficult for them to acquire capital at an inexpensive cost. Junk bonds carry an above average risk that the issuer will default on the bond. The increased risk makes them arguably unsuitable for many investors.

On April 30, 2016, Midstates Petroleum Company, Inc. And Midstates Petroleuem, LLC filed  petitions for relief under Chapter 11 of the United States Bankruptcy Code, in Houston, Texas.

Brokerage-firms and investment adviser are required to make investment recommendations that are suitable for their clients in light of their clients particular investment situation – net worth, investment objectives, income, and investment experience.  Brokerage firms or advisors who sell junk bonds to unsuitable investors or fail to adequately disclose the risks of the investments can be held accountable for losses suffered through a FINRA arbitration claim.

If you have suffered losses with your investment in Midstates Petroleum Company Inc.  and would like to speak with a securities attorney about your litigation options, please call The White Law Group at 312-238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

To learn more about The White Law Group visit www.whitesecuritieslaw.com.

Tags: , , , , , , , , Last modified: November 20, 2019