KlaymanToskes, https://klamantoskes.wpengine.com, announces an investigation on behalf of investors who sustained losses from the purchase of Goldman Sachs MLP and Energy Renaissance (NYSE:GER) (“GER”), a Master Limited Partnership (“MLP”). GER closed at 33.21 on February 21, 2020, prior to the significant market event that was precipitated by COVID-19. Yesterday, GER closed at 6.60, post-split adjusted. 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.
MLPs are investment vehicles available only to the real estate and natural resource sectors. Unfortunately, MLPs may become risky during times when those sectors are hit hard. Real estate and natural resources, especially the energy sector, including oil and gas, can see significant swings often causing investors to shoulder the losses. These risks should be explained by brokerage firms and financial advisors prior to recommending these investments. Investors may seek damages for violations of sales practice rules and regulations, as set forth by the Financial Industry Regulatory Authority (FINRA) in arbitration.
To qualify, you must have an account at a full-service brokerage firm serviced by a financial advisor or an account managed by a registered investment advisor at a discount brokerage firm. If you have a self-directed account or make your own investment decisions, then this 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 GER to their customers. Investors who purchased these investments are encouraged to contact Lawrence L. Klayman, Esq. of KlaymanToskes at (561) 542-5131, or visit our website at www.klaymantoskes.com.