Galvin Legal is launching an investigation on behalf of investors who suffered losses investing in Penneco Drilling Associates 2004-1 at the recommendation of their financial adviso.
According to FINRA Rule 2111, broker-dealers and associated persons are required to have a reasonable basis to believe that a recommended transaction or investment strategy involving a Securities Lawyer or securities is suitable for the customer. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose.
