BOCA RATON, Fla.--(BUSINESS WIRE)--KlaymanToskes ("KT"), http://www.klaymantoskes.com, continues their investigation on behalf of investors who sustained losses in excess of $250,000 in Chesapeake Energy (NYSE:CHK) (“Chesapeake”) as a result of recommendations from their financial advisor including unsuitable asset allocations in the Energy sector. This investment 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.
Oil & Gas investments are historically risky during times of volatility and/or reduced demand. These risks should be explained by financial advisors prior to recommending these investments. Chesapeake is currently trading around 13.20 per share after undergoing a 1:200 reverse split approximately two months ago. It has been reported that bankruptcy is imminent for Chesapeake, who is currently holding a $9 billion debt. Investors may seek damages for violations of sales practice rules and regulations, as set forth by the Financial Industry Regulatory Authority (FINRA) in arbitration.
If you made self-directed trades in your investment account with E-Trade, TD Ameritrade, Charles Schwab, Fidelity, or Interactive Brokers, or another self-trading platform that was not being managed by a registered investment advisor, this investigation does not apply to you.
The sole purpose of this release is to investigate the sales practices and financial misconduct of brokerage firms and financial advisors in connection with the sale of Chesapeake to their customers including unsuitable asset allocations in the Energy sector. Chesapeake investors who held accounts at full-service brokerage firms, and have information relating to the manner in which the firm handled their accounts are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.
About Klayman Toskes
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.