June 30, 2020 Comments Off on Thompson National Properties (TNP) Files for Chapter 11 Bankruptcy Blog, Current Investigations

Thompson National Properties (TNP) Files for Chapter 11 Bankruptcy

Thompson National Properties (TNP) Files for Chapter 11 Bankruptcy, featured by top securities fraud attorneys, The White Law Group

Thompson National Properties (TNP) Investors may have Claims.

Have you suffered losses investing in Thompson National Properties LLC (TNP)? 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.

Thompson National Properties, LLC (TNP) is a real estate advisory company, specializing in the creation and management of real estate investment funds, according to Bloomberg.

Thompson National Properties filed a form D to raise capital from investors as an “exchange offer” in December 2014 as an attempt to avoid Chapter 11 bankruptcy. The company reportedly asked investors of its note programs to swap out failed high-yield-notes for stock in a new offering.

The exchange was reportedly an effort to restructure  $50 million in debt as a result of five failed TNP-backed note programs sold between 2008 and 2012 by independent broker dealers. The various offerings included TNP Strategic Retail Trust (now known as Strategic Realty Trust), TNP 12% Notes and TNP Participating Notes Program LLC.

According to Form D, the total offering amount was purportedly $47,117,000 and the type of securities was equity.

According to reports, Thompson National Properties LLC filed for Chapter 11 bankruptcy protection on September 26, 2019.

Are High Risk Private Placement Investments Suitable for you?

Investments such as these are typically sold by brokerage firms in exchange for a large up front commission. High fees can range from 7-10%, as well as additional due diligence fees that can range from 1-3%.  

Private placement investments typically involve a high degree of risk. They are also often sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.   

The White Law Group is investigating the liability that FINRA registered brokerage firms may have for unsuitably  recommending high-risk private placements to investors. 

Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim. 

Filing a Complaint against your Brokerage Firm

If you have concerns regarding your investment in Thompson National Properties, LLC,  you may be able to file a complaint against your brokerage firm. Please call The White Law Group at 888-637-5510 for a free consultation with a securities attorney.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.  For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com

 

 

 

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