Pennsylvania Real Estate Investment Trust (PREIT) Investment Losses
Have you suffered investment losses in PREIT (Pennsylvania Real Estate Investment Trust) at the advice of your financial advisor? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a complaint against the brokerage firm that sold you the investment.
On November 1, 2020, mall owner PREIT, also known as Pennsylvania Real Estate Investment Trust, announced it filed chapter 11 in the United States Bankruptcy Court for the District of Delaware.
The company said that under the plan it will be recapitalized and its debt maturities extended. The company plans to pay all vendors, suppliers and employees during the course of chapter 11, according to reports. The prepackaged plan reportedly received support from over 95% of the company’s creditors, according to the company on Sunday.
Earlier last month the REIT, which trades under the ticker PEI, was reportedly given six months to get its trading price above $1 or be delisted from the New York Stock Exchange, after struggling to recover from the effects of Covid-19.
According to MarketWatch, the company’s share price is down -91% YTD.
The White Law Group is investigating securities claims involving broker dealers who may have unsuitably recommended PREIT to investors.
Broker dealers are required to perform adequate due diligence on all investment recommendations including real estate investment trusts. They must ensure that each investment is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses.
Free Consultation with a Securities Attorney
To determine whether you may be able to recover investment losses in Pennsylvania Real Estate Investment Trust, please contact 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. The firm works on a contingency fee basis and may be able to represent you in a complaint against your brokerage firm.
For more information on the firm, visit www.WhiteSecuritiesLaw.com.