AFIN- American Finance Trust – Lawsuits
Have you suffered investment losses in AR Global’s American Finance Trust (AFIN)? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
AFIN, which started trading on the Nasdaq on July 19, opened at $13.15 per share and closed at $15 per share. On Oct. 14, the REIT’s stock price closed at $14 per share, 40 percent lower than its net asset value of $23.56 per share.
The original offering price was $25.00 per share.
According to a lawsuit filed in October, shareholders of American Finance Trust are suing over an IPO that allegedly wiped $1 billion off the company’s market value.
The plaintiffs, reportedly gained shares in American Finance Trust after it merged with another AR Global REIT, American Realty Capital – Retail Centers of America.
According to the lawsuit, the company did not outline the possible negative impacts of the merger on the financial performance of the REIT in its registration statement.
AFIN Shareholders may have Recovery Options
Unfortunately many investors were not made adequately aware of the risks and liquidity problems associated with non-traded REITs before purchasing them.
Broker dealers are required to perform adequate due diligence on any investment they recommend. They must ensure that all recommendations are suitable for the investor. Recommendations should be in line with the investor’s age, risk tolerance, net worth, and investment experience.
If you suffered losses investing in American Finance Trust, the securities attorneys at The White Law Group may be able to help you. To speak to a securities attorney about the potential to recover your investment losses, please call the offices of The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.