Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, continues to investigate brokerage firms that placed elderly retirees and other conservative investors in high-risk oil and gas related investments, including Seadrill Ltd.

The Wall Street Journal reported last week that offshore-drilling services provider Seadrill Ltd., plans to file for bankruptcy by September 12, 2017.  On August 24, 2017, Seadrill Ltd.’s shares fell 8 cents to 18 cents, down 99% from Seadrill Ltd.’s 2013 peak, when Seadrill Ltd.’s market value exceeded $22 billion. 

Daily leases for Seadrill Ltd.’s rigs, which once commanded up to $800,000, dropped to around $200,000 as cheap oil from U.S. shale drilling flooded the market, according to the Wall Street Journal.  Seadrill Ltd. had managed to push back a number of restructuring deadlines over the past year, but Seadrill Ltd. faces a $1 billion bond, which matures in September 2017.

Even though high yield or junk bonds, notes, limited partnership units, and stock issued by Seadrill Ltd. and other oil and gas companies have considerable risk, overzealous brokers, brokerage firms and registered investment advisors have nonetheless recommended Seadrill Ltd. and these types of investments to conservative investors seeking income.  We believe that investors in Seadrill Ltd. face significant losses. 

Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments such as Seadrill Ltd., and has recovered well over $300 million dollars on behalf of victimized investors.  We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.  All of our cases are handled on a purely contingency fee basis.

You may have the right to recover your losses from the brokerage firm that sold Seadrill Ltd. and other high-risk investments to you. We strongly recommend that you act quickly, however, because statutes of limitation can be short in securities cases.

Our firm has a unique, unparalleled track record.  Kalju Nekvasil, Esq., has not lost a securities arbitration case on the merits in more than 13 years.  We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.

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. Finally, the filing of such a case should not affect your rights as a creditor in the upcoming Seadrill Ltd. bankruptcy or your ownership of these investments in any way.

If you incurred losses on your investment in Seadrill Ltd. and/or other high-risk investments 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.

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