Did you lose money investing in Waveland North Paradigm Partners II, L.P.?
Galvin Legal, PLLC is launching an investigation on behalf of investors who suffered losses investing in Waveland North Paradigm Partners II, L.P. at the recommendation of their financial advisor. If you suffered losses investing in the investment, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim against the brokerage firm that recommended the investment.
As energy prices have declined so has the value of energy investments. Many investors have suffered significant losses in energy investments that were recommended to them by the financial advisor. Many of these investments were high risk and were unsuitable for their portfolios.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
About Waveland
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 E&P companies in North America.In addition, Waveland has deployed invested capital to special private equity opportunities in select sectors such as medical device, health sciences, technology, and manufacturing.
About Waveland North Paradigm Partners II, L.P.
According to its website, North Paradigm Partners I, L.P. and North Paradigm Partners II, L.P. are a series of limited partnerships which were formed by Waveland Energy Partners LLC to enable investors to own working interests in oil and natural gas properties located in Central Oklahoma. Waveland has partnered with New Dominion, L.L.C. to jointly exploit a unique approach to the development and production of bypassed high water saturation oil and gas reservoirs in Central Oklahoma. The Partnerships are participating in the continuing development of New Dominion’s existing well inventory on the North Paradigm Project in Pottawatomie County and Seminole County, Oklahoma.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires brokerage firms to conduct due diligence on investments, such as Waveland North Paradigm Partners II, L.P., and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokerage firms that fail to conduct adequate due diligence on investments they recommend, such as Waveland North Paradigm Partners II, L.P., or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing in Waveland North Paradigm Partners II, L.P. and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
