CNL Lifestyle Properties Inc. Liquidation Investment Losses
If you suffered losses investing in CNL Lifestyle Properties Inc., The White Law Group may be able to help.
On November 2, 2016, CNL Lifestyle Properties, Inc. (CNL Lifestyle), announced that it had entered into a purchase agreement (the Purchase Agreement) with EPR Properties and Ski Resort Holdings, LLC for the sale of substantially all of the assets of CNL Lifestyle. CNL Lifestyle has agreed to sell the Northstar California Ski Resort, 15 attractions properties, including waterparks and amusement parks, and five small family entertainment centers for consideration valued at approximately $830 million.
The consideration consists of $183 million in cash, and $647 million in common stock of EPR Properties. The Purchase Agreement requires the approval of a majority of CNL Lifestyle common stockholders. CNL Lifestyle intends to dissolve and implement a plan of liquidation following the prospective closing of the transaction, subject to stockholder approval.
The White Law Group has handled a number of claims involving non-traded real estate investment trusts (REITs) like CNL Lifestyle Properties.
In those claims, the firm has alleged, among other things, that REITs were (1) high-risk and unsuitable for our clients given their financial needs and investment objectives, (2) that the risks of the investment were not fully disclosed to them, and (3) that the brokerage firms that sold the investments failed to follow FINRA rules to perform adequate due diligence.
Non-Traded REITs are complex products that involve a significant degree of risk and arguably unsuitable for many investors. Brokerage firms that overlooked suitability requirements or failed to disclose the risk when recommending CNL Lifestyle Properties to clients’, may be liable for losses.
Recovery of Investment Losses
If you invested in CNL Lifestyle Properties or another non-traded REIT and would like to discuss your litigation options with a securities attorney, please call The White Law Group at 1-888-637-5510 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 our website www.whitesecuritieslaw.com.