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June 30, 2011
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Blog, Securities Fraud
Given the sheer volume of negative news currently in the press regarding David Lerner & Associates and Apple REIT, it will not be surprising if many Apple REIT investors attempt to redeem their investments today (Apple REIT permits redemption requests quarterly). Unfortunately, due to these same forces
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June 29, 2011
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Blog, Securities Fraud
According to the Investment News, as part of a settlement with eight states and the Securities and Exchange Commission, Raymond James Financial Inc. will buy back $300 million in auction-rate securities from clients and pay a fine of $1.7 million. The states in charge of the settlement are Florida and Texas. Other
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June 29, 2011
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Blog, Securities Fraud
Many investors are receiving notification this week that Desert Capital REIT has been forced into an involuntary Chapter 11 bankruptcy (or re-organization). Realizing (some for the first time) that their investments in Desert Capital REIT may be a total loss, investors are beginning to review their legal options. If
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June 29, 2011
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Blog, Current Investigations, Securities Fraud
Do you have questions about your Apple REIT investment? If so, The White Law Group may be able to help. The White Law Group is currently investigating claims that David Lerner unsuitability recommended that investors invest in Apple REIT investments. Based on the firm’s investigation, it appears that investors
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June 28, 2011
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Blog, Securities Fraud
Despite the writing on the wall, David Lerner continues to maintain that there is nothing wrong with the Apple REITs that it has sold to thousands of investors over the years. This position is not surprising considering the financial impact that a decline in Apple REITs value will have on the bottom line for David
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June 27, 2011
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Blog, Securities Fraud
Many investors in Apple REITs sold by David Lerner are now deciding whether (1) to join the many class actions that have been filed and will be filed, or (2) to pursue individual arbitration claims. The answer depends on the overall strength of an investors individual case and whether the amount invested is
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June 26, 2011
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Blog, Securities Fraud
According to the Investment News, a pair of registered representatives with Planmember Securities Corp. could lose their securities licenses in Texas and face fines of $100,000 each for the improper sale of life settlement notes. The brokers, Jimmy Wayne Freeman Jr. and Kris Bradford Rhoden, are due to appear at the
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June 23, 2011
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Blog, Securities Fraud
According to the Investment News, Regions Financial Corp. will pay $210 million to settle federal and state regulatory charges involving subprime-mortgage-laden mutual funds managed by its investment banking subsidiary, Morgan Keegan & Co. The bank announced today in a press release that it had hired The Goldman
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June 21, 2011
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Blog, Securities Fraud
According to the Investment News, older Americans are being financially abused by family members, strangers and businesses to the tune of $2.9 billion a year, according to the latest MetLife Inc. study. That total is 12% greater than the study’s 2008 findings, which estimated that elders were being swindled out
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June 20, 2011
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Blog, Securities Fraud
One of the allegations that we often hear from investors in Desert Capital REIT is that the principals of the firm were selling shares of Desert Capital shortly before investors were told that the firm would no longer be offering redemptions. Any time a principal of a company buys or sells stock in that company,
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