SCOOP: New ad campaign wants Trump, Bondi to defend American investors against Argentine takeover of energy company
The Energy Alliance wants Argentina to stop stiffing American investors.
A new ad campaign launched by The Energy Alliance and obtained by the Washington Reporter urges the Trump administration to defend American investors in the long-running legal battle over Argentina’s 2012 takeover of YPF, the country’s largest energy company.
When Argentina captured a controlling stake in YPF — a company once listed on the New York Stock Exchange — it left American shareholders and investment firms with devastating losses and little recourse to recover their lost capital. Plaintiffs in the case argue the Argentine government violated its legal duties to its investors when it expropriated the company and neglected to buy out their shares.
“Americans are being forced to fight in court because Argentina cheated ‘em, and they think they can get away with it,” a voiceover in the ad says.
Under the socialist administration of then-President Cristina Fernández de Kirchner, the Argentine government seized control of YPF in effort nationalize the country’s energy sector. Now, over a decade later, American investors are still fighting in court to recover what they lost.
The group hopes that as President Donald Trump continues to build his winning America First agenda, he will look to this case as an opportunity to reinforce his administration’s commitment to economic prosperity by defending American investments and U.S. markets from foreign disruption.
“This is exactly the kind of case where American leadership is needed,” Bill Peacock, the Policy Director of the Energy Alliance, explained. “When Argentina refused to honor their agreement with U.S. investors, it put American’s pension funds and retirement accounts at risk.”
“If Argentina can simply walk away from its obligations to American investors, what’s to stop other nations from doing the same?” Peacock asked.
The case is currently under appeal in the Second Circuit where it will hear oral arguments later this year.
The ad ends with a direct appeal to Attorney General Pam Bondi: “Pam Bondi can fix this, helping Americans get what they’re owed, and when she does, Argentina will be reminded: President Trump always puts America First.”