Provident Asset Management

The United States Securities and Exchange Commission (“SEC”) has charged Provident Royalties, LLC, Provident Asset Management LLC, and founders Brendan Coughlin, Paul Melbye, and Henry Harrison with securities fraud. The SEC claims that the limited partnership interests and preferred shares that the defendants sold in various Provident and Shale Royalties entities were part of a $485 million investment scam.

Blum Law Group is pursuing claims against the selling brokerage firms for negligence, negligent misrepresentations and omissions, and breach of fiduciary duty. Our investigation includes potential claims against brokerage firms such as Securities America, National Securities Corporation, Wedbush Morgan, Capital Financial Services, Workman Securities, QA3 Financial Corporation and GunnAllen Financial.