Fitapelli Kurta is investigating customer complaints from investors who invested in American Eagle Energy Corp. based on recommendations from their stock broker or financial advisor.  American Eagle Energy Corp. filed for chapter 11 bankruptcy protection on Friday, May 8, 2015 after failing to make interest payments to its bondholders.
American Eagle Energy Corp. is a Littleton, Colorado based company, which buys and develops oil wells in the Williston Basin of North Dakota.   American Eagle Energy took on an ambitious expansion plan, which seemed to have backfired in the face of dropping oil prices.  American Eagle Energy recently issued $175 million worth of corporate bonds.  In April, 2015, American Eagle Energy announced that it would not be able to make bond payments and entered into a forbearance agreement with its largest bond holders.
Unable to pay bondholders, American Eagle Energy Corp. filing for chapter 11 bankruptcy protection on May 8, 2015.  In the filing, American Eagle Energy Corp. listed its assets at $211 million and its debts at $215 million.  It is anticipated that the owners of the over 30 million outstanding shares of American Eagle Energy Corp. may be paid nothing.  It is also anticipated that bondholders may only be paid back pennies on the dollar.
If you or someone you know invested in American Eagle Energy Corp. based on the recommendation of your stock broker or investment advisor, we are interested in speaking to you.  Specifically, your stock broker or financial advisor had an obligation to disclose all material risks associated with investing in American Eagle Energy Corp. and to ensure that your investment in the company was suitable given your risk tolerance.