Stoltmann Law Offices continues to investigate investor-related losses in oil and gas and commodities related investments. Investors may have legal options for these unsuitable investments if they were recommended by a broker. Your broker has a duty to recommend only suitable investments, by taking into account your age, net worth and investment objectives, among other things. Stoltmann Law Offices has been tracking investments in a number of leveraged master limited partnerships (MLPs). Among those being investigated is Neuberger Berman MLP Income Fund (NYSEMKT:NML) with $1 billion in assets. Over the past year, the fund has lost 60%.
In the past year alone, investors have lost $20 billion in publicly traded master limited partnerships and publicly traded oil funds. But big banks such as Citigroup, Barclays and Wells Fargo have made an estimated $1.1 billion in fees for selling these products. Brokers make large commission off of these products as well. MLPs may not be suitable for all investors, and investors can sustain losses. Please call us today for a free consultation with one of our attorneys.