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Investor Alert: Atlas Energy Oil and Gas Investments

atlas energyThe securities fraud law firm, Fitapelli Kurta is interested in hearing from investors who have lost money investing in Atlas Energy’s oil and gas investments.   These investments were offered at firms such as: Berthel Fisher, Cambridge Investment, Centaurus Financial, Cetara Advisors, Fintegra, First Allied Securities, FSC Securities, H. Beck, Independent Financial Group, Investment Planners, J P Turner, and Madison Avenue Securities.

Atlas Energy is a natural resource company that uses subsidiaries Atlas resource Partners and Atlas Pipeline Partners to focus on the production, transportation and processing of natural gas and oil.  Recently, Atlas Energy has offered private placements for investors in partnerships that drill for oil.  One such oil and gas investment is Atlas Resources Series 34-2014 LP, which promises to drill for oil in Texas, Oklahoma, Ohio and Pennsylvania.  The minimum investment is $25,000. Private placement investments like Atlas Resources Series 34-2014 LP are investments that are not publically bought or sold on an exchange. Instead they are offered to a select group of investors, therefore avoiding much of the regulations and rules attributed to publically traded securities.

Atlas Energy aims to raise $300 million from Atlas Resources Series 34-2014 LP investors before the offer closes on December 31. However, what Atlas Energy has failed to tell Atlas Resources Series 34-2014 LP investors is where a significant amount of that 300 million will be going.

According to a recent “Special Report” by Reuters, around $45 million of the money paid by investors will be given to Anthem Securities, an affiliate of Atlas Energy, to pay commissions to broker-dealers who offer Atlas Resources Series 34-2014 LP.  As much as $39 million will be used to buy additional drilling leases from another Atlas Energy affiliate, and Atlas’ suppliers will also receive another $54 million. As such, at least $8 million of the investors’ money is not even being invested all.  Instead, this money is going toward undisclosed commissions and fees for brokerage firms in the form of a 15% markup on anticipated equipment costs. Last but certainly not least, Atlas Energy will take $52 million to itself for other miscellaneous fees and markups.

Atlas Energy is offering these oil and gas investments at numerous broker-dealer firms such as: Berthel Fisher, Cambridge Investment, Centaurus Financial, Cetara Advisors, Fintegra, First Allied Securities, FSC Securities, H. Beck, Independent Financial Group, Investment Planners, J P Turner, and Madison Avenue Securities.

Private placements, like Atlas Resources Series 34-2014 LP have been the talk of the investment world over the past few years, but many investors are just starting to see the light.

According to Reuters, “For slightly more than half of 43 private placements Atlas issued over the past three decades, outside investors lost money or just about broke even. In 29 of those deals, Atlas did better than those investors.”

If you or someone you know has lost money investing in oil and gas investments or private placements with a broker-dealer firm such as: Berthel Fisher, Cambridge Investment, Centaurus Financial, Cetara Advisors, Fintegra, First Allied Securities, FSC Securities, H. Beck, Independent Financial Group, Investment Planners, J P Turner, and Madison Avenue Securities, please contact Fitapelli Kurta immediately. You may be entitled to recover your losses but time is of the essence in filing your claim, so do not delay. Call now for your free consultation.

The following firms have offered Atlas Energy oil and gas investments:

  • Ameritas Investment
  • Arete Wealth management
  • Alaska Capital management
  • Ausdal Financial partners
  • AXA Advisors
  • B. Graham & Co.
  • Berthel Fisher & Co.
  • Broker Deal Financial Services
  • Cadaret Grant & Co.
  • Carlton & Associates
  • Cambridge Investment Research
  • Cape Securities
  • Capital Financial Services
  • Capital Guardian
  • Capital Investment Brokerage
  • Capital Investment Group
  • Carey, Thomas, Hoover & Breault
  • Centaurus Financial
  • Center Street Securities
  • CFD Investments
  • Colony Park Financial
  • Commonwealth Financial
  • Comprehensive Asset Management and Servicing
  • Conover Securities Corp.
  • Cooper Malon McClain
  • Courtlandt Securities
  • Crown Capital securities
  • Dalton Strategic Investment Services
  • Ensemble Financial Services
  • Equity Services
  • Fairport Capital
  • Financial Network Investment (Cetera Advisors)
  • Financial West Group
  • Fintegra
  • First Allied Securities
  • First Heartland Capital
  • First Independent Financial
  • First Liberties Financial
  • Foothill Securities
  • Founders Financial Securities
  • Forsyth Securities (OakBridge Financial)
  • FSC Securities
  • GA Repple & Co.
  • GBS Financial
  • Geneos Wealth Management
  • Girard Brokerage Services
  • H. Beck
  • H D Vest vestment Services
  • Hagen Securities
  • Heim, Young & Associates
  • Heritage Financial Systems
  • Hornor, Townsend & ken
  • Independent Financial Group
  • Independence Capital
  • Infinity Financial Services
  • ING Financial partner
  • IFC Holdings
  • Investment Centers of America
  • Investment Planners
  • Investors Capital Corp.
  • J P Turner & Co.
  • J W Cole Financial
  • Kalo Capital
  • KCD Financial
  • KCG Securities
  • Landolt Securities
  • Liberty Group
  • Lincoln Financial Advisors
  • Lincoln Financial Securities
  • M Holdings Securities
  • Madison Avenue Securities
  • Marathon Financial Group
  • Matrix Capital Group
  • May Capital Group
  • McDonald Partners
  • McNally Financial Services
  • Merrimac Corporate Securities
  • MetLife Securities
  • MHA Financial
  • Mid Atlantic Capital
  • MidAmerican Financial Services
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