Recent statistics indicate that there are over 110 MLPs trading on major exchanges, with oil & gas midstream activities – gathering, processing, natural gas compression, pipelines, storage, refining, distribution, and marketing – representing the dominant activity. The latest U.S. Securities & Exchange Commission filings by a number of Energy Master Limited Partnerships (“MLPs”), however, provide […]
As noted in an April 1, 2016 article in The Wall Street Journal (“MLP Investors’ Maze of Tax Trouble Keeps Getting Worse”), investors are learning the hard way that energy MLPs, set up to shield companies from Uncle Sam, could have unexpected tax consequences when times get tough. It is yet another sign investors didn’t […]
A Manhattan federal judge on Tuesday consolidated three fraud class action suits claiming Bermuda-based Seadrill Ltd. misled investors with vows to preserve its chunky dividend payments, adding to the original stock-purchasing plaintiffs a new universe of claimants who bought options in the offshore drilling giant. U.S. District Judge Lorna G. Schofield’s move set up a […]
The Financial Industry Regulatory Authority (FINRA) and The Nasdaq Stock Market LLC (Nasdaq) announced today that they jointly censured and fined Wedbush Securities Inc. $675,000 for supervisory violations in connection with its handling of a client’s redemption activity and trading of leveraged exchange-traded funds (ETFs) that led to chronic fails to deliver in several ETFs […]
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 […]