Atlas Growth Partners LP was a high risk limited partnership dedicated to developing and producing natural gas, crude oil and NGLs. Based on Atlas Growth Partner’s SEC Filings, investors who were sold Atlas Growth Partners may have lost almost 99% of their investment principal. Atlas Growth Partners recently disclosed in a filing with the SEC that there were “significant risks and uncertainties related to our inability to satisfy our current liabilities raise substantial doubt about our ability to continue as a going concern. If these liabilities are called, we will not have sufficient liquidity to repay all of our outstanding liabilities, and as a result, there would be substantial doubt regarding our ability to continue as a going concern.”
Atlas Growth Partners raised over $230,000,000 from thousands of investors around the country. However, as of March 31, 2021, the company reports net assets of less than $4 million. This could represent a stunning loss of more than $200 million of investor’s principal.
Investors who were recommended to invest in Atlas Growth Partners by their broker or Financial Advisor should contact our firm for a free and confidential review of their potential claims. Atlas was self-described as a high risk investment that engaged in speculative business activities. If brokers or financial advisors recommended Atlas to retirees, conservative, or moderate investors, those investors may have a legal right to recover damages. Brokers are required to only recommend suitable investments to their clients, and they are required to conduct reasonable due diligence on the investments they recommend. However, Atlas Growth Partners paid significant upfront fees and commissions to the brokers and dealer managers who sold the investment to their clients. In fact, approximately 10% of the investor’s capital went to upfront fees and commissions for the broker and dealer manager.
Unfortunately, there were a significant number of red flags and warning signs in Atlas Growth Partners’ business. The shares of Atlas were illiquid. Further, the owners of shares of Atlas had limited voting rights and could not elect Atlas’ general partner or board of directors. Atlas also disclosed that there were potential conflicts between the general partner and other affiliates of the general partner.
Unfortunately for investors, the red flags and other risks appear to have resulted in substantial losses. However, our team works to recover investor’s losses. We represent investors on a contingency fee basis, meaning there are no upfront costs or fees to you. We may be able to file a FINRA Claim to recover damages you suffered due to the negligent or unsuitable recommendations from your broker. You can contact attorney Michael Bixby directly at Mbixby@levinlaw.com to discuss your potential claim, or fill out an evaluation form or give us a call and we will provide a complimentary review of your potential claim.
What Our Clients Say
Below are some of the emails and letters that our clients have sent us.
At a time in our life when we were most vulnerable we lost control of our finances. We fell victim to a broker that took huge commissions and did not disclose that we were not able to access our money. Peter Mougey and his wonderful staff worked with us to make us whole again and got our money released. I cannot say enough about their work ethic, professionalism, and kindness during this stressful time for us. We had a 100% positive conclusion to our case and we strongly recommend Peter and the firm. We can now sleep at night! Fred & Pat H.
My husband and I were very pleased with the work that Peter and his team provided. He was very knowledgeable of the circumstances of our case and kept us informed throughout the process. He is extremely qualified and worked diligently on our behalf. We are positive that this case would not have been resolved in our favor had it not been for Peter's expertise and his passion. He definitely cares about his clients and we sincerely appreciate his efforts. Rachel C.
FRS is a governmental body. FRS retained the services of Peter Mougey of the LP law firm in a multimillion dollar lawsuit involving extremely complex issues. Mr. Mougey quickly mastered the issues and gave advice that was vital in bringing about a successful resolution. Two of the most important features of Mr. Mougey’s representation was his understanding of government and his ability to communicate complicated legal concepts to a 10-member board of trustees in language that was easily understood by all. I did not know Mr. Mougey before FRS retained him and, fortunately, have not experienced circumstances where the system would need his services again. However, if needed, I would have no hesitation in retaining his services again. Please let me know if you need any additional information or assistance. Steven S.
Edison's famous adage can't ever be ignored of course: 1 part inspiration and 99 parts perspiration. However the two attitudes must be present indissolubly--both are essential--if results are to be obtained. Peter Mougey’s group is aware of such a requirement, they work very hard at the latter, and the former comes easily to them, a rare combination anywhere to be found indeed. Raphael B.
I would like to express my sincere gratitude to Peter Mougey and your entire team on behalf of my family for the amazing job done during your representation. From day one I received kindness, rapid responses to all of my questions, with polite and patient encounters with all of your staff assistants. You are the best- and I will be eternally grateful to you and your entire team. Michelle E.