Securities Investigation – Resource Income Opportunity REIT
Are you concerned about your investment in Resource Income Opportunity REIT? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
According to Bloomberg, Resource Income Opportunity REIT, Inc., was organized in Maryland on June 25, 2014. The publicly registered non-traded REIT changed its name from Resource Innovation Office REIT to Resource Income & Opportunity REIT, and finally to Resource Income Opportunity REIT.
According to SEC filings, on May 7, 2018, Resource Income Opportunity REIT, Inc. announced that its board of directors had approved the termination of its continuous public offering and approved and adopted a plan of liquidation and dissolution.
The Board also terminated the distribution reinvestment plan, share repurchase program effective May 8, 2018.
Additionally, the Board authorized the repurchase of 7,043 vested shares of Resource IO held by members of the Board for an aggregate repurchase price of $68,389.88.
The Trouble with Non-traded REITs
The trouble with non-traded REITs, like Resource Income Opportunity REIT, is that they are complex and inherently risky products.
Broker dealers are required to inform clients of the risks associated with investment recommendations and to ensure that those recommendations are suitable for the investor in light of the investor’s age, risk tolerance, net worth, and investment experience. Firms that fail to do so may be held responsible for any losses.
Lack of liquidity is often problematic for many investors. Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale.
If you invested in Resource Income Opportunity REIT 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 and its investigations, visit www.whitesecuritieslaw.com.