According to InvestmentNews, Inland American REIT commenced an offer on March 14, 2014 to buy back a small number of shares. Investors in Inland American REIT should be receiving written notification of the tender offer in the mail. According to the tender offer, Inland American REIT is offering to purchase up to $350 million of its shares at a price not greater than $6.50 nor less than $6.10 per share.
Inland American was launched in 2004 and raised approximately $8.9 billion. Today, it is the largest non-traded REIT with $9.7 billion in assets, according to the report. Many investors purchased the REIT at $10 per share, so at the tender offer prices investors appear to have lost in excess of 35%.
Unfortunately, many investors did not fully understand what they were purchasing. Due to the high commissions associated with nontraded REITs, some financial advisors failed to adequately disclose all the risks and liquidity problems of these investments.
The White Law Group has represented numerous Inland American investors in claims against the brokerage firm that recommended the REIT to these investors.
Brokerage firms have a fiduciary duty to its clients to perform adequate due diligence on an investment prior to recommending it for sale to its clients, as well as to ensure that any investment recommended is appropriate in light of the investor’s age, investment experience, net worth, and investment objectives.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Inland American REIT, please contact the REIT fraud attorneys of The White Law Group 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, visit http://www.whitesecuritieslaw.com.