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April 5, 2012
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Blog, Securities Fraud
A Financial Industry Regulatory Authority Inc. hearing panel recently ordered David Lerner to pay more than $3.7 million in fines and restitution for overcharging retail customers on sales of more than 1,500 municipal bonds and 1,700 collateralized-mortgage-obligation transactions. According to a FINRA release, 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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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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July 4, 2011
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Blog, Securities Fraud
Many investors that purchased Apple REIT shares did not realize the risks of the investment. The reason that Apple REIT (like other REITs) is a high-risk investment is: REITs generally focus on one type of real estate, like the hotels of the Apple REIT 10. This makes the investment particularly vulnerable to market
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