FORT LAUDERDALE, Fla., Nov. 3, 2009 (GLOBE NEWSWIRE) -- The Law Firm of David R. Chase, P.A., headed by former Securities and Exchange Commission Prosecutor and Special Assistant United States Attorney, David R. Chase, announces that it is investigating potential claims to recover investor losses against brokerage firms that sold Provident Royalties investments, including Shale Royalties, Provident Energy and Provident Resources.
On July 7, 2009, the Securities and Exchange Commission filed a Complaint against Provident Royalties, LLC and others alleging a $485 million Ponzi scheme. The SEC suit claims that Provident falsely promised investors yearly returns up to 18%, and misrepresented how 85% of the funds raised through the various offerings would be used.
The Law Office of David R. Chase, PA is investigating the sales practices and due diligence of broker-dealers who solicited investors to purchase investments in Provident Royalties investments.
The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida, represents investors worldwide in cases against the major Wall Street Firms. David R. Chase has been practicing for over 17 years, is AV-Rated by Martindale-Hubbell -- its highest competence and ethics rating -- and previously served as a securities prosecutor for the Federal Government. More about the firm is available on its website at: www.davidchaselaw.com.
If you or a family member suffered a loss in Provident Royalties investments, including Shale Royalties, Provident Energy and Provident Resources, and wish to discuss your legal rights in a confidential case evaluation at no charge, or you have information about this matter, please contact directly:
David R. Chase, Esq.
Law Office of David R. Chase, P.A.
1700 East Las Olas Boulevard
Penthouse 2
Fort Lauderdale, FL 33301
888-337-8625 (Toll Free)
954-920-7779
Email: david@davidchaselaw.com