Have you suffered losses in Retail Properties of America Inc. (RPAI) REIT? If so, the REIT fraud attorneys of The White Law Group may be able to help.
Retail Properties of America (formerly called Inland Western REIT), the nation’s third-largest shopping center REIT, produced some punishing results for investors with its recent IPO offering.
It is being reported that Retail Properties’ $8 offering price not only came up well short of its expected pre-offering price of $10 to $12, but it took some reverse-stock-split engineering just to get the price to $8.
For those investors who originally bought the REIT at $10 a share, the actual split-adjusted value of the stock is less than $3 per share (a decline of over 70%).
This could certainly dampen the enthusiasm for future REIT stock offerings and give pause to other nontraded REITs looking at an IPO as an option.
The White Law Group continues to file FINRA arbitration claims involving nontraded REITs like Retail Properties of America (Inland Western) against the financial professionals and brokerage firms that originally recommended these investments.
Brokerage firms and financial advisers have a fiduciary duty to perform due diligence on any investment and to insure that an investment is appropriate in light of the investor’s age, investment experience, and investment objectives. If a broker or brokerage firm fails in this responsibility, investors may have an actionable claim to recover their investment losses in a claim through FINRA arbitration.
To speak with a securities attorney regarding your Inland Western REIT investment, please call The White Law Group’s Chicago office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.