The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”), www.nasd-law.com, announced today that it filed a claim against LPL Financial to recover losses sustained in Inland Western Real Estate Investment Trust (“REIT”) n/k/a Retail Properties of America (NYSE:RPAI) and Inland American REIT. The claim was filed with the Financial Industry Regulatory Authority (“FINRA”), and seeks damages of $300,000.
According to the claim, LPL recommended that the Claimant invest over $251,000 in Inland Western and Inland American which were represented as safe, income producing investments. Through reinvested dividends, the Claimant’s investments grew to over $300,000. The Claimant had no idea that the investments carried a high degree of risk and were illiquid. Moreover, Claimant’s portfolio was concentrated in these two REITs. Contrary to LPL’s assurances, Claimant sustained substantial losses and was unable to liquidate the REITs as they declined in value.
Investors who purchased Inland Western, Inland American or other REITs from LPL Financial or other FINRA brokerage firms can contact K&T to explore their legal rights and options. K&T is presently pursing claims on behalf of investors who sustained losses by purchasing REITs including Apple REITs sold by David Lerner Associates, AmREIT, Behringer Harvard REITs, Cornerstone Core Properties REIT, and Wells REITs.
K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.If you wish to discuss this announcement or lost $250,000 or more by purchasing REITs from a brokerage firm, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at www.nasd-law.com