Plan out your investment by getting in contact with your investment fraud attorney .
Over the past 6 weeks, we have spoken to over 60 (60) frightened speculators with concerns about the current events and negative press swirling around FINRA’s complaint filed against David Lerner and the Apple REIT investments. Most, or all of the those investors pointed to the fact that they intended right away to redeem their stock in Apple REITs 6-9.
Redemption requests are considered by the Apple REIT entities on a quarterly basis and June 23, 2011 was the deadline to submit redemption request forms to David Lerner for the current quarter. This week, speculators commenced receiving letters from David Lerner providing information on what quantity of their investment they are going to get this quarter. The results are as follows:
Apple REIT 6 – 11.88%
Apple REIT 7 – 11.08%
Apple REIT 8 – 6.28%
Apple REIT 9 – 38.34%
These results are disappointing and intensely dangerous to seniors who are not in a position financially or health-wise to wait a couple of years to presumably receive all of their investment back. Financiers who are over-concentrated in Apple REITs (e.g. More than 10% of your portfolio) likely have a valid legal claim against David Lerner to attempt to win damages suffered as a consequence of the firm making barely suitable investment recommendations and for hiding material facts from backers, including but not limited to concealing the true share prices of these investments.
By continuing to represent investors that the share price was $11 when in fact it was not, David Lerner hid the truth from backers and contributed to the run on the bank and the low redemption percentages. In numerous cases, Apple REITs were sold by David Lerner brokers as safe investments that are 100% liquid after 3 years from the date of purchase. Clearly, that did not turn out to be the case.
This piece discuss the apple investment where they need an investment fraud attorney and securities fraud attorney . Posted by Nenita Jamison.