Aztec Oil & Gas, a company that organized several securities offerings for oil-and-gas programs, recently filed for Chapter 11 bankruptcy. The Peiffer Wolf securities practice lawyers Jason Kane, Joe Peiffer, and James Booker have launched an investigation into the sales practices of several securities broker-dealer firms that recruited their customers to invest in oil and gas securities offerings organized by Aztec Oil & Gas.
The Peiffer Wolf lawyers are investigating whether certain brokerage firms that recommended and sold Aztec Oil programs to their customers did so without first conducting adequate due diligence as to Aztec and its securities offerings. The law firm’s securities practice lawyers have already filed claims on behalf of Aztec investors against several brokerage firms that recruited such investors to invest in Aztec. They are seeking compensation on behalf of their clients from such brokerage firms as a result of those firms’ alleged failure to conduct adequate due diligence as to Aztec and its programs before recommending the Aztec Oil & Gas programs to investors.
The Peiffer Wolf securities lawyers are in touch with other Aztec investors and are preparing to file additional claims on their behalf, against other brokerage firms that marketed and sold Aztec investments. No allegations of misconduct are made in this news release about Aztec or its principals.
“Securities brokerage firms have a duty to adequately check new products before recommending such products to their customers,” said Jason Kane, a principal of the Peiffer Wolf law firm who is overseeing the Aztec cases. “Public investors ought to be able to rely on their brokerage firms and investment professionals to conduct reasonable due diligence and vet new products they bring to their customers’ attention,” said Jason Kane.
The Aztec programs at issue include Aztec Drilling&Operating LLC, Aztec Comanche B Oil&Gas, LP, Aztec XII-C Oil&Gas, LP, Aztec XII-A Oil&Gas, LP, Aztec XII-B Oil&Gas, LP, Aztec XI-A Oil&Gas, LP, Aztec XI-B Oil&Gas, LP, Aztec XI-C Oil&Gas, LP, Aztec XI-D Oil&Gas, LP, Aztec X-A Oil&Gas, LP, Aztec X-B Oil&Gas, LP, Aztec X-C Oil&Gas, LP, Aztec VIII-B Oil&Gas, LP, Aztec VIII-C Oil&Gas, LP.
The Peiffer Wolf lawyers’ investigation also suggests that in some cases securities brokerage firms that sold Aztec Oil & Gas investments to their customers may have failed to first determine that such investments were suitable for those customers, given such customers’ risk tolerance and investment expectations.
Contact Peiffer Wolf for a Free Evaluation of Your Aztec Investment Recovery Options
The Peiffer Wolf law firm’s securities practice attorneys often represent investors who lose money as a result of investment-related misconduct or fraud, including improper or unsuitable investment recommendations and failure to conduct appropriate due diligence. They are preparing to assist more Aztec Oil & Gas investors with the recovery of their investments. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients. They already represent Aztec investors.
Investors who believe they may have lost money they invested in Aztec or are concerned about their investments may contact the securities lawyers at Peiffer Wolf, Jason Kane, Joe Peiffer, or James Booker, for a free, no-obligation evaluation of their recovery options, at 216-589-9280, via email at email@example.com, or through the contact form on this website.