NAPLES, Fla., May 15, 2012 (GLOBE NEWSWIRE) -- The Vernon Healy investor advocacy law firm issued an investor alert and analysis today following the recent disclosure by the Inland American non-traded REIT that it faces a Securities and Exchange Commission investigation.
The Vernon Healy law firm has been investigating non-traded REITs for more than three years on behalf of investors and has filed more than $5 million in arbitration claims on behalf of investors before the Financial Industry Regulatory Authority against broker dealers selling non-traded REITs.
"The SEC investigation appears to focus on the types of fee structure issues related to some non-traded REITs that have been a concern of our law firm's investigation for more than three years," said Chris Vernon, founding partner of the Vernon Healy law firm.
On May 10, Inland disclosed in its first quarterly report that "the SEC is conducting a non-public, formal, fact-finding investigation to determine whether there have been violations of certain provisions of the federal securities laws regarding our business manager fees, property management fees, transactions with our affiliates, timing and amount of distributions paid to our investors, determination of property impairments, and any decision regarding whether we might become a self-administered REIT."
Vernon Healy has issued numerous investor alerts on its blog, www.reitattorneys.com, regarding non-traded REITs in recent years including an article with questions that investors should ask before investing in a non-traded REIT. View Vernon Healy's non-traded REIT analysis on Inland American.