Coral Gables, FL (PRWEB) July 21, 2011
The Securities Law Firm of Tramont Guerra & Nunez, P.A. (TGN) announces the launch of a website designed to provide a forum for the furtherance of investor rights for those who suffered losses from investments in Apple REITs recommended by David Lerner Associates. The Financial Regulatory Industry Authority (FINRA) rules and regulations of the securities industry were not established to eliminate the risks inherent in investing. Rather, the rules and regulations were designed to assure the complete and timely disclosure of all information relevant for investment decisions. Specifically, to allow investors to knowingly, and with a reasonable level of transparency, evaluate risk. David Lerner Associates is obligated to give, and investors are entitled to rely upon them for unbiased, accurate information and suitable investment advice as the syndication underwriter for the Apple REITs. According to FINRA, unsuitable investment advice, failure to supervise the activities of financial advisors and fraudulent misrepresentations and omissions of material facts are causes of action that are available to investors against David Lerner Associates and their financial advisors in an individual securities arbitration claim filed with FINRA.
David Lerner Associates was a named party in two class action lawsuits filed in June 2011. The first class action lawsuit (Case No. 11 CV 02919) was filed on June 17, 2011, in the United States District Court for the Eastern District of New York for the class period from April 24, 2008 through June 17, 2011. This class action lawsuit alleges the Offering documents related to the Apple REIT Ten investments “contained materially false and misleading statements and omitted to state facts necessary to make the statements made therein not materially misleading.” A second class action lawsuit (Case No. 2:33-av-00001) was filed on June 20, 2011, in the United States District Court for the District of New Jersey. The class action lawsuit alleges the Offering documents related to the Apple REITs Series 6-10 “represented to potential investors that the Apple REITs paid a steady 7-8% return on investment, but did not clearly disclose that the Apple REITs paid those returns by borrowing money and paying back capital because income from operations was never sufficient to fund the distributions.”
The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, securities law firm. The securities law firm is committed to the education of investors throughout the country with respect to the rights of the investor community. It is our belief and conviction in the FINRA dispute resolution process and the legitimacy of investor rights that governs our efforts for investor advocacy. Investors who possess information concerning David Lerner Associates’ sales practices related to Apple REITs are encouraged to contact the firm. To request a confidential consultation from a TGN attorney to determine whether you have a viable individual securities arbitration claim for investment losses in Apple REITs recommended by David Lerner Associates, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for David Chacin, Esquire.