HBR VI LLC – SEC Action | Goodman & Nekvasil P.A. May Recover Investor Losses
According to the Securities and Exchange Commission:
The proceedings concern material misrepresentations and omissions made in connection with unregistered oil and gas securities offerings.
Between 2016 and 2019 (the “Relevant Period”), Resolute Capital Partners LTD, LLC and salespeople acting on its behalf sold more than $250 million of debt and equity securities in unregistered offerings, based on working interests in oil and gas wells, to retail investors. One of the offerings is HBR VI LLC. Resolute Capital Partners LTD, LLC provided insufficiently supported projections of future oil production, made statements about potential tax benefits that were unavailable to certain investors, overstated cash reserves, and made incomplete disclosures regarding potential uses of investor funds, including the amount of funds that would be used for payments to prior debt and equity investors.
Resolute Capital Partners LTD, LLC should have known that their statements and omissions were materially misleading.
Resolute Capital Partners LTD, LLC touted the success of the HBR VI, LLC offering in marketing efforts for subsequent offerings, while failing to disclose the related-party nature of the sale of the HBR VI, LLC well interests. Respondents stated that their investment vehicles had returned $93 million to oil and gas equity and debt investors, and that equity investors in HBR VI, LLC had enjoyed an average 11% rate of return. These claims were materially misleading because Resolute Capital Partners LTD, LLC failed to disclose that these purported returns were based on related-party and not market-based transactions and came primarily from other investor funds as opposed to successful operations.
Investors in HBR VI, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in HBR VI, LLC Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $250 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for approximately 40 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in HBR VI, LLC and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.