Linn Energy LLC warned Tuesday that a chapter 11 bankruptcy filing may be “unavoidable” for the oil and gas producer. The company said it has hired financial and legal advisers “to address our liquidity and capital structure, including strategic and refinancing alternatives through a private restructuring,” but added that bankruptcy may be its only option. The warning […]
An prudent investment strategy starts with an asset allocation suitable for the portfolio’s objective. The allocation should be built upon reasonable expectations for risk and returns, and should use diversified investments to avoid exposure to unnecessary risks. Both asset allocation and diversification are rooted in the idea of balance. Because all investments involve risk, investors […]
Kenneth Bolton, a current broker-dealer at Sandlapper Securities in Greenville, South Carolina. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck, Bolton allegedly breached fiduciary duty, misrepresented and omitted material facts, recommended unsuitable investments, and executed unauthorized trades, among other transgressions. Bolton was registered with the following firms: American Eagle Securities, First Investors Corporation, E.F. […]
The Securities and Exchange Commission today charged a Rhode Island agency and its bond underwriter Wells Fargo Securities with defrauding investors in a municipal bond offering to finance startup video game company 38 Studios. The Rhode Island Economic Development Corporation (RIEDC, now called the Rhode Island Commerce Corporation) issued $75 million in bonds for the […]
Energy XXI Ltd. and SandRidge Energy Inc., oil and gas drillers with a combined $7.6 billion of debt, didn’t pay interest on their bonds last week. They have until the middle of next month to either pay the interest, work out a deal with their creditors or face a default that could tip them into […]