10.0David P Neuman
(720) 599-3505

INVESTOR NOTICE! Investigation of Walter Energy Stock Losses with Morgan Stanley

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01
Sep

INVESTOR NOTICE! Investigation of Walter Energy Stock Losses with Morgan Stanley

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INVESTOR NOTICE: Investigation of Walter Energy Stock Losses with Morgan Stanley

 

Israels & Neuman is investigating losses incurred by investors in Walter Energy, Inc. (WLTGQ), and particularly, those investors who invested through Morgan Stanley.

 

Walter Energy used to be one of the largest producers of coal in the state of Alabama.  The company stock previously traded on the NASDAQ, but has been on a steady decline since 2012, when it was valued at roughly $75.00 per share.  The shares are now traded through the OTC markets, with a current price quote of roughly $0.03 per share.

 

Walter Energy filed for bankruptcy protection in 2015, and has since gained bankruptcy court approval to liquidate nearly all of its assets.  The bankruptcy and asset sale has now completely wiped out any investments made by investors in the company’s public stock, due to what is known as the “Absolute Priority Rule,” which prohibits distributions to equity investors, prior to full repayment of creditors of higher “priority,” which includes general unsecured creditors.

 

Israels & Neuman has learned that certain Morgan Stanley brokers (some of which worked in The Villages, Florida and Lake Mary, Florida) sold high concentrations of Walter Energy stock to retired investors.  By recommending high concentrations of this type of investment to retired investors, these brokers could have violated FINRA rules related to suitability and breached fiduciary duties to investors.

 

An investment in Walter Energy, Inc. was extremely risky, particularly in high concentrations.  If you purchased stock in Walter Energy, Inc. on the advice of a financial advisor or stockbroker, you may be able to bring a claim for your losses through FINRA arbitration.   This is because financial advisors have a duty to disclose risks associated with these types of investments and must ensure that their client’s portfolios are adequately diversified, so that the investor’s portfolio is not completely wiped out in the event of a downturn.

 

Aaron Israels and David Neuman are experienced securities arbitration attorneys and have represented investors in recovering their investments in micro-cap oil stocks, including some who invested in companies very similar to Walter Energy, Inc.  Israels & Neuman, PLC represents arbitration clients in all 50 states, including those located in Florida.  Our primary practice is representing victims of investment fraud.

 

Our office handles all of our arbitration cases on a contingent fee basis, meaning you do not pay unless we recover money for you.

 

HAVE YOU LOST MONEY WITH WALTER ENERGY, INC. OR MORGAN STANLEY?

             CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION

                Denver Office: (720) 599-3505

                Seattle Office: (206) 795-5798

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

FREE CASE EVALUATION

DENVER: (720) 599-3505

SEATTLE: (206) 795-5798


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