July 10, 2012 Comments (0) Blog, Securities Fraud

Recovery of Thompson National Properties 12 Percent Notes Losses

(Last Updated On: July 17, 2015)

Have you suffered losses investing in the Thompson National Properties 12 Percent Notes Program (otherwise known as TNP 12 Percent Notes)?  Are you concerned about what the recent announcement that TNP 12 Percent Notes has suspended interest payments might mean for the value of your investment?  If so, the securities attorneys of The White Law Group may be able to help.

Thompson National Properties 12 Percent Notes program was designed to raise capital for the operations of Thompson National Properties and its tenant-in-common (TIC) real estate operations.  According to reports, investors were recently informed that the private placement — called the TNP 12 Percent Notes Program LLC — would halt interest payments with the intention of restarting payments on the notes in 2013.

According to a filing with the Securities and Exchange Commission, the TNP 12 Percent Notes Program LLC raised $21.5 million from 418 investors in 2008 and 2009.

Mr. Thompson, chief executive of Thompson National Properties, launched Thompson National Properties in 2008. Earlier, he had founded Triple Net Properties LLC.

Since 2008, Thompson National Properties has launched 17 investment programs (including the TNP 12 Percent Notes), with the largest being a nontraded real estate investment trust, TNP Strategic Retail Trust.  That REIT has acquired grocery and necessity-anchored retail shopping centers valued at $200 million and raised almost $91 million from investors.

According to the firm’s SEC filing, twenty-two independent broker-dealers had agreements to sell the notes, which required a minimum investment of $50,000.

The White Law Group is investigating the liability that brokerage firms may have for recommending the TNP 12 Percent Notes, as well as other Thompson National Properties investments.  Brokerage firms have a fiduciary duty to perform due diligence on any investment prior to offering it for sale to its clients.  Broker dealers also are obligated to ensure that any recommendation is appropriate in light of the investor’s age, investment experience, net worth, and investment objectives.

The SEC filing also indicated that brokers who sold the TNP 12 Percent Notes earned a 7% commission on the sale of the notes (considerably higher than the commission on more traditional investments like stocks or mutual funds), likely explaining the brokerage firms’ motivation in approving and selling the investments.

If you believe that you have suffered losses as a result of your investment in Thompson National Properties 12 Percent Notes, please call the securities attorneys of The White Law Group at 312/238-9650 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.

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