ATTENTION WELLS FARGO CUSTOMERS WITH OIL & GAS INVESTMENTS RECOMMENDED BY THEIR FINANCIAL ADVISOR – KlaymanToskes Commences...
24 April 2020 - 11:25PM
Business Wire
KlaymanToskes ("KT"), http://www.klaymantoskes.com, announces an
investigation on behalf of investors with Wells Fargo & Company
(NYSE:WFC) accounts who sustained losses from investments in the
Energy Sector, High Yield Debt, and investments tied to the Alerian
MLP Index, including Master Limited Partnerships (“MLPs”), Exchange
Traded Funds (“ETFs”), Exchange Traded Notes (“ETNs”), and Business
Development Companies (“BDCs”). These investments may have been
marketed and sold to customers who were risk averse, such as
retirees or other conservative investors, that were seeking income
and capital preservation and were not explained the potential
risks.
Investments in Oil & Gas are historically risky during times
of volatility and/or reduced demand. These risks should be
explained by financial advisors prior to recommending these
investments. Recently, due to the Coronavirus (“COVID-19”)
pandemic, Oil & Gas Investments have undergone a precipitous
decline, causing investors significant losses. Investors may seek
damages for violations of sales practice rules and regulations in
FINRA Arbitration if they were recommended any of the following Oil
& Gas investments:
Magellan Midstream Partners LP (MMP) Enterprise Products
Partners LP (EPD) MPLX LP (MPLX) Tallgrass Energy LP (TGE) Energy
Transfer LP (ET) Plains All American Pipeline LP (PAA) Phillips 66
Partners LP (TCP) TC PipeLines LP (TCP) EQM Midstream Partners LP
(EQM) Shell Midstream Partners LP (SHLX) Chevron Corp (CVX) Exxon
Mobil Corp (XOM) Phillips 66 (PSX) ConocoPhillips (COP) EOG
Resources Inc (EOG) Kinder Morgan Inc (KMI) Schlumberger Ltd. (SLB)
Valero Energy Corp. (VLO) Williams Companies Inc. (WMB) Marathon
Petroleum Corp (MPC)
The sole purpose of this release is to investigate whether Wells
Fargo’s recommendations to buy Oil & Gas investments were
suitable for investors. Investors with Wells Fargo accounts that
have information relating to the manner in which the firm handled
their portfolios, are encouraged to contact the attorneys of
KlaymanToskes at (561) 542-5131, or visit our firm’s website at
www.klaymantoskes.com.
About Klayman & Toskes, P.A.
KT is a leading national securities law firm which practices
exclusively in the field of securities arbitration and litigation,
on behalf of retail and institutional investors throughout the
world in large and complex securities matters. The firm represents
high net-worth, ultra-high-net-worth, and institutional investors,
such as non-profit organizations, unions, public and multi-employer
pension funds. KT has office locations in California, Florida, New
York, and Puerto Rico.
Destination:
https://klaymantoskes.com/attention-wells-fargo-customers-with-oil-gas-investments-recommended-by-their-financial-advisor/
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version on businesswire.com: https://www.businesswire.com/news/home/20200424005301/en/
Klayman & Toskes, PA Lawrence L. Klayman, Esq. (561)
542-5131 lklayman@klaymantoskes.com www.klaymantoskes.com
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