BOCA RATON, Fla., May 03, 2018 (GLOBE NEWSWIRE) -- The Securities Law Firm of Menzer & Hill, P.A. www.menzerhill.com, announced that a FINRA Arbitration Panel awarded its clients $2.3 Million for losses sustained in United Development Funding III & IV, including, but not limited to:
- Wells REIT
- AmREIT
- Behringer Harvard REIT
- United Mortgage Trust
- American Realty Capital Trust
- United Development Funding III – UDF III
- United Development Funding IV – UDF IV
- United Development Funding V – UDF V
- ARC New York City REIT
- NetReit
- Phillips Edison ARC Grocery Center REIT II
- Cole Capital Property Trust III
- Carter Validus Mission Critical REIT2
- ICON Income Fund 10
- ARC Retail Centers of America, Inc.
The Claim alleged that the financial advisors and brokerage firm was negligent in the manner in which Claimants’ accounts were over-concentrated in the aforementioned Non-Traded REITs.
Gary Menzer, Managing Partner with the Securities Law Firm of Menzer & Hill, P.A., says, “the most satisfying aspect of the award is that the Arbitration Panel awarded full principal losses and denied Respondents’ argument that if anything, Claimants should only be awarded net out-of-pocket damages or ‘NOP’”. Michael Hill, Managing Partner argued at the hearing that, “when you have retirees that expect to live off of the interest and dividends and therefore require their original principal investment back to reinvest or use, it is patently unfair for brokerage firms to believe that NOP is a fair or reasonable damage model and thankfully, the Arbitration Panel agreed with our argument.”
If you have sustained REIT losses, private placement losses or any other investment losses, please contact the Securities Law Firm of Menzer & Hill, P.A. at 888-923-9223, or visit us on the web at www.suemyadvisor.com for a free case evaluation.