Please contact one of our securities attorneys in Chicago, Illinois if you were recommended or sold private placements in Coachman Energy or Bakken Drilling. Brokers have sold these private placements, which may not be suitable for all investors. The Securities and Exchange Commission (SEC) recently settled an action where the agency alleged that Coachman Energy Partners LLC failed to adequately disclose its methodology for calculating the management fees and expeses it charged to the funds from 2011 through 2014. The SEC found that the investment adviser for four private placement oil and gas funds miscalculated by $1.1 million in management fees and $449,000 in management-related expenses. Further, there were undisclosed conflicts of interests as one of the funds entered into transaction with an affiliated entity without proper disclosure or obtaining investor consent. Bakken raised $206 million from 309 investors. Coachman is believed to be involved with the following private placement investments:
• Bakken Drilling Fund III LP
• Bakken Drilling Fund IV LP
• Bakken Drilling Fund IVB LLC
• Coachman Energy Land II LLC
• Coachman Energy VI LP
• Coachman Energy VIB LLC
• Coachman Energy VII Offshore Feeder Fund LTD
• Coachman Energy VII Onshore Feeder Fund LP
Brokers at brokerage firms have an obligation to only recommend and sell those investments that are suitable for their clients by taking into account their age, net worth, investment objectives and investment sophistication. If they do not, their brokerage firms may be liable for losses. Please call our Chicago-based law firm today at 312-332-4200 for a no-cost, no-obligation consultation with one of our attorneys. We take cases on a contingency fee basis only.
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
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