The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”),
, announced today that it filed a claim against Berthel Fisher & Co. Financial Services (“Berthel”) to recover damages sustained in Inland Western REIT n/k/a Retail Properties of America (NYSE: RPAI). The securities arbitration claim was filed with the Financial Industry Regulatory Authority (“FINRA”).
According to the claim, in maintaining accounts with Berthel, the Claimant had always made it clear that he did not want to expose his assets to significant risk, and that he was willing to accept a lower rate of return in order to keep his hard-earned money safe. In response, Berthel recommended Inland Western REIT. The firm’s advisor represented to Claimant that the REIT would be a “sure thing” with a guaranteed dividend of 5% for the first 5 years. The investment was marketed as a low risk, fixed income product that would preserve Claimant’s principal investment. The reality, however, was that the REIT was speculative and exposed Claimant’s portfolio to more risk than he was willing to assume. As a result, Claimant sustained substantial damages.
Investors who purchased Inland Western REIT or other direct investments from Berthel Fisher or other brokerage firms can contact K&T to explore their legal rights and options. K&T is presently pursuing claims on behalf of investors from across the country who sustained losses by purchasing these types of products.
If you wish to discuss this announcement or invested $250,000 or more Inland Western or other direct investments, 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