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Written by 4:48 pm Blog, Current Investigations

Waveland Drilling Partners III-A LP – Secondary Sales Price

Waveland Drilling Partners III-A LP

Concerned about losses in Waveland Drilling Partners III-A LP?

Have you suffered investment losses in Waveland Drilling Partners III-A LP? If so, 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.

According to its website, Waveland invests in oil and gas exploration and development throughout the Mid-Continent and Permian Basin regions of the United States alongside many of the largest and most active exploration and production companies.

Investigating Potential Claims

The White Law Group is investigating the liability that brokerage firms may have for improperly selling oil and gas private placements like Waveland Drilling Partners III-A LP.

Many oil and gas LPs have high expense ratios, and due to the decline in the overall health of the oil and gas market, are suffering. Some are on the brink of default, or worse yet, bankruptcy.  It only highlights the unsuitability of these investments for most retail investors – particularly in large concentrations.

According to Waveland’s website, “Private placement investments involve a high degree of risk and should be undertaken only by persons who have the sophistication and financial resources to assume these risks.”

Private Placements – Illiquid and High Sales Commissions

Lack of liquidity in private placements such as Waveland Drilling Partners III-A LP can be problematic for investors. If you are looking to sell your investment, you may have difficulty finding a buyer, and can suffer significant losses on the sale.

According to LPsales.com, a secondary market for private placements, .25 of a unit of Waveland Drilling Partners III-A LP was recently sold for $12,000. This may represent a significant loss for many investors.

Reg D private placements such as Waveland Drilling Partners III-A LP are typically sold by brokerage firms in exchange for a large up front commission, usually between 7-10%, as well as additional “due diligence fees” that can range from 1-3%. In this case, according to the Form D, the commissions included “7% Sales commissions 3% Non-accountable wholesaling & marketing allowance.”

Fortunately, FINRA does provide for an arbitration forum for investors to resolve such disputes and if a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be found liable for investment losses in a FINRA arbitration claim.

To determine whether you may be able to recover investment losses incurred as a result of your purchase of Waveland Drilling Partners III-A LP or another Waveland Reg D private placement investment, please contact The White Law Group at 1-888-637-5510 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. The firm represents investors throughout the country in claims against their brokerage firm.

For more information on the firm and its representation of investors, visit www.WhiteSecuritiesLaw.com.


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