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October 22, 2012
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Blog, Securities Fraud
The Financial Industry Regulatory Authority Inc. recently announced that it has ordered David Lerner & Associates to pay $12 million in restitution to clients who bought shares of a nontraded real estate investment trust known as Apple REIT 10. Finra also fined David Lerner Associates more than $2.3 million for
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May 24, 2012
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Blog, Securities Fraud
It is being reported that the first of potentially hundreds of arbitration cases relating to the sale of Apple REITS by David Lerner Associates Inc. has been decided in favor of claimants Joseph Graziose and Florence Hechtel. Last week, Financial Industry Regulatory Authority Inc. arbitrator Alvin Green apparently
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January 31, 2012
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Blog, Securities Fraud
It is being reported that FINRA recently filed an enforcement complaint against David Lerner individually for allegedly misleading investors about risk and valuation when marketing a $2 billion non-traded real estate investment, Apple REIT (the same investment for which FINRA began a similar proceeding against David
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October 14, 2011
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Blog, Securities Fraud
The White Law Group is continuing to investigate and analyze how investors have been sold the Apple series of REITs by David Lerner Associates, Inc. The firm has spent the last few months reviewing documents and information regarding the Apple REIT investments sold by David Lerner and determining how best to assist
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September 28, 2011
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Blog, Securities Fraud
According to the investmentnews.com, FINRA “is putting the finishing touches on a rule proposal that would shorten the amount of time that broker-dealers have to come up with estimated valuation of a nontraded REIT.” The Financial Industry Regulatory Authority (FINRA) has been paying very close attention to REIT
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September 8, 2011
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Blog, Securities Fraud
Non-traded REITs are a legitimate investment option for the right investor. REITs capitalize on tax law and often provide the smaller investor with an opportunity to invest in commercial real estate. However, non-traded REITs are not for everyone. There are a few problems with these investments that make them
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September 6, 2011
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Blog, Securities Fraud
Brokerage firms have a fiduciary duty to recommend investments that are appropriate for the investor in light of the investor’s age, net worth, investment experience, and investment objectives. One of the types of investments we often see abused, are REITs (real estate investment trusts) – likely due to the high
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August 3, 2011
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Blog, Securities Fraud
The White Law Group has spent the last few months reviewing documents and information regarding the Apple REIT investments sold by David Lerner and determining how best to assist investors in recovering losses incurred as a result of their investing in Apple REIT. At this point, this much is apparent: (1) In May 2011,
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July 18, 2011
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Blog, Securities Fraud
According to the Investment News, clients of David Lerner Associates Inc. holding shares in nontraded REITs created by Apple REIT Cos. Inc. received account statements at the end of last month in which the longtime value of the shares was shown as “not priced.” For years, shares of the real estate investment
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July 6, 2011
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Blog, Securities Fraud
According to the Long Island Business News, Apple REIT Eight, a non-traded real estate investment trust sold exclusively by Syosset-based David Lerner Associates, recently announced that it has reduced its annual dividend from 7 percent to 5 percent, blaming a “slower than anticipated” recovery for some of its
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