Massachusetts sues LPL Financial Over Non-Traded REITs

On December 12, 2012 the Massachusetts Securities Division filed suit against LPL Financial, LLC regarding the sale of non-traded REITs. Massachusetts specifically targeted LPL’s sale of Inland American Real Estate Trust. According to the complaint, LPL received at least $1,403,477.40 in commissions from sales of Inland American’s non-traded REITs. According to a recent article in…

Will FINRA’s Complaint Against David Lerner Cause Apple REIT To Deny Redemption Requests By Investors?

Last week, FINRA’s complaint filed against David Lerner & Associates triggered a storm of media attention scrutinizing the brokerage firm’s alleged sales practices violations related to its distribution of Apple REITs investments. The FINRA complaint also exposed that the $11 price per share of all Apple REITs offered are overvalued and that each REIT has…

FINRA Takes Aim At Brokers Selling Reverse Convertible Notes

Investment News reports that Richard Ketcham, FINRA’s chairman and chief executive last week warned an audience of more than 900 industry professionals at the regulator’s annual meeting in Washington that the regulator is focusing on broker-dealers that sell structured products such a reverse convertible notes. This news comes on the heels of our blog post…

Attention New Birth Missionary Baptist Church Members: Immediate Steps To Take If You Suffered Investment Losses From Ephren Taylor, Capital City Corp. and/or Bishop Eddie Long

On September 28, 2010, at the outset of the sex scandal that ripped through New Birth Missionary Baptist Church, we posted a blog post entitled, Atlanta Journal Constitution reports over the last couple days about Bishop Eddie Long going “viral” in an attempt to recover lost money on behalf of trusting church members, it is…