According to Griffincapital.com, as of December 3, 2014 Griffin-American Healthcare REIT II completed a $4 billion merger and is now part of Northstar Realty Finance Corporation.
Foxbuisness reported that shareholder would receive $7.75 per share in cash and $3. 75 per share in NorthStar common stock for their shares of the REIT.
The White Law Group continues to investigate potential securities fraud claims involving broker-dealers’ improper recommendation that investors purchase risky non-traded REIT investments.
REITs are complex products that are inherently risky. Unfortunately some brokers emphasized the potential for relatively high dividends and downplayed the risks associated these products. Until recent regulation changes, non-traded REITs could go five years without evaluating net asset value (NAV). Investors had no way of knowing the value of their shares.
Brokerage firms have a fiduciary duty to make investment recommendations that are suitable for clients given their age, net worth, risk tolerance and investment objectives. Firms that overlook suitability requirements can be liable for investment losses.
If you suffered losses in a non-traded REIT, such as Griffin-American Healthcare REIT II, and would like to discuss your litigation options, 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 Vero Beach, Florida.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com