CHICAGO, Jan. 17, 2012 (GLOBE NEWSWIRE) -- Stoltmann Law Offices announces its continued investigation into brokerage firm sales practices related to non-traded REITs. The law firm has filed multiple FINRA arbitration claims against brokerage firms for sales practices related to these products.
The FINRA arbitration statement of claims against the brokerage firms who sold the investments allege sales practice abuses including negligence, misrepresentations and omissions related to the failure to fully disclose the risks associated with non-traded REITs. The claims also allege unsuitable investment recommendations.
The law firm represents multiple other clients in Behringer Harvard REITs as well as those issued by Wells Real Estate, Apple and others. The largest closed REITs by assets in 2011 include Inland, Wells REIT II, Behringer Harvard REIT I, KBS Real Estate Investment Trust, Corporate Property Associates 16 Global, Cole Credit Property Trust II, Dividend Capital Total Realty Trust, CNL Lifestyle Properties, KBS Real Estate Investment Trust II, Corporate Property Associates 15, Hines Real Estate Investment Trust, Lightstone Value Plus REIT and Desert Capital.
According to Chicago securities attorney Andrew Stoltmann, "We believe many conservative or elderly clients were sold non-traded REITs. In some cases, the true risks of these investments were not disclosed to the clients. Many retirees who couldn't afford to take the risks associated with non-traded REITs had substantial percentages of their net worth concentrated in these investments. In some instances, we believe these were unsuitable investment recommendations. Fortunately, some, or all, of the frozen funds or investment losses in non-traded REITs may be recoverable against the brokerage firms who sold them through FINRA arbitration claims and lawsuits. The brokers who sold these investments are not our targets and we are not naming them in future actions."
For more information, please visit www.ReitFraudRecovery.com or www.InvestmentFraud.Pro