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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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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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June 30, 2011
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Blog, Securities Fraud
Given the sheer volume of negative news currently in the press regarding David Lerner & Associates and Apple REIT, it will not be surprising if many Apple REIT investors attempt to redeem their investments today (Apple REIT permits redemption requests quarterly). Unfortunately, due to these same forces
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June 28, 2011
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Blog, Securities Fraud
Despite the writing on the wall, David Lerner continues to maintain that there is nothing wrong with the Apple REITs that it has sold to thousands of investors over the years. This position is not surprising considering the financial impact that a decline in Apple REITs value will have on the bottom line for David
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June 27, 2011
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Blog, Securities Fraud
Many investors in Apple REITs sold by David Lerner are now deciding whether (1) to join the many class actions that have been filed and will be filed, or (2) to pursue individual arbitration claims. The answer depends on the overall strength of an investors individual case and whether the amount invested is
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June 16, 2011
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Blog, Securities Fraud
Since David Lerner and Apple REIT continue to maintain that the value of Apple REIT shares is approximately $11/share, many of the clients with whom we have spoken ask whether their investment has declined in value. Unfortunately for investors, while many Apple REIT investors still believe that their shares are valued
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June 1, 2011
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Blog, Securities Fraud
According to the Investment News, David Lerner Associates Inc. has been accused of targeting unsophisticated and elderly customers while selling real estate investment trust shares without considering whether the illiquid security was suitable for its clients. The Syosset, New York-based brokerage, known for its
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