Articles Tagged with SXL

shutterstock_27597505The investment attorneys with Gana Weinstein LLP continue to report on investor related losses in oil and gas and commodities related investments. Investors may have potential legal remedies due to unsuitable recommendations by their broker to invest in this speculative and volatile area. Our firm represents securities investors in claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks.

Among the MLPs that have suffered significant declines is Sunoco Logistics Partners (NYSE:SXL). Sunoco Logistics Partners has plummeted in value by about 58% in value over the last year. According to the company’s website, Sunoco Logistics Partners owns and operates a logistics business with a diverse portfolio of crude oil, refined products, and natural gas liquids pipeline, terminalling and acquisition and marketing assets. Sunoco Logistics Partners’ general partner is a consolidated subsidiary of Energy Transfer Partners, L.P. (NYSE: ETP).

As a background, The MLP sector had totaled $600 billion in assets at its peak before collapsing to about $300 billion now. According to the Associated Press, investors have lost an astonishing $8 of every $10 they had invested since 2014. The research does not include losses from $37 billion of bonds sold by the partnerships in the five years since 2010 or losses from private placement partnerships. However, banks like Citigroup, Barclays, and Wells Fargo made an estimated $1.1 billion in fees for selling these products to investors.