Did you invest in Behringer Harvard REIT I, the now publicly traded REIT known as TIER REIT? If so, The White Law Group may be able to assist you in the recovery of your investment losses.
Under the ticker “TIER“, the REIT’s opening bid on the New York Stock Exchange was $19.50 per share. Prior to the public offering, the REIT issued a 6-for-1 reverse split which estimated per share value was estimated at $4.48, or $26.88 when adjusted for the split. While the opening bid is significantly lower than the REITs estimated per share value, according to SEC filings, stockholders were warned not to assume that shares would trade at or above the most recent estimated per share value of $26.88. While the public listing will provide investors liquidity, those that choose to sell their shares will likely suffer losses.
Unfortunately for many investors, they should never have been sold the REIT in the first place. REITs are incredible complex and high risk investments that are inherently illiquid and inappropriate for most investors, especially retired investors. Brokers that sell REITs have a fiduciary duty to make sure the investment is suitable for every individual client and must take into account the clients age, risk tolerance, financial needs, and investment objections to name a few of the suitability requirements enforced by the Financial Industry Regulatory Authority (FINRA).
Brokers that overlooked suitability requirements or portrayed the REIT as “safe,” be liable for investment losses through FINRA dispute resolution claim. On behalf of investors, The White Law Group is investigating claims that some brokers violated securities law and FINRA regulations when selling TIER REIT.
If you invested in TIER REIT (f/k/a Behringer Harvard I) and would like to discuss your potential to recover your investment losses, please call the securities attorneys at The White Law Group at (312)238-9650 for a free consultation.