LAKE CHARLES, La., April 10, 2012 (GLOBE NEWSWIRE) -- The Securities Law Firm of SHEPHERD SMITH EDWARDS & KANTAS LLP, www.sseklaw.com, has recently filed a claim on behalf of a client of JOSE "PEPE" VASQUEZ AND UVEST. The client lost much of his life savings which were invested in Real Estate Investment Trusts ("REITs"), which he was promised were low risk, completely liquid investments, according to the allegation.
REITs are not liquid investments, nor do they have the low level of risk that has been often advertised. Most REITs require an investor to hold their shares for years before they can be redeemed. When real estate prices nationwide began to fall, investors were unable to get their money back out, and suffered huge losses as a result. Misrepresentations, such as these, of the risks of an investment are a violation of securities laws and regulations. If you are or were a client of Jose "Pepe" Vasquez or any other broker at UVEST and you lost money in a REIT that you believe was misrepresented, we would like to hear from you.
Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. Since 1990, we have represented thousands of investors nationwide to recover losses. We have represented clients in Federal and state courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions. Collectively, we have represented over 1,000 investors over the last 18 years in negotiation, mediation, arbitration and litigation.