The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”),
, announced today that it is commencing an investigation into the sale of real estate investment trust (“REITs”) products by Ameriprise Financial (NYSE:AMP) to its customers. Ameriprise Financial was one of the largest sellers of non-traded REITs.
Many investors purchased REITs at the recommendation of their full-service brokerage firm, like Ameriprise, who advised them that they were low risk, safe investments, thereby misrepresenting the product. In some cases, a substantial portion of a customer’s assets were placed in a single REIT, resulting in an unsuitable over-concentration in a single product. Consequently, REIT investors may be able to recover some of their losses by filing an individual securities arbitration claim against their full-service brokerage firm.
Ameriprise customers who invested in REITs are encouraged to contact K&T to explore their legal rights and options. K&T has filed numerous securities arbitration claims with the Financial Industry Regulatory Authority’s (“FINRA”) Arbitration Department relating to REITs, including claims against Ameriprise. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered substantial losses. 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 purchased $250,000 or more in REITs through Ameriprise, 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