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Our law firm is investigating securities arbitration claims against full-service brokerage firms who sold CIP Leveraged Fund Advisors, LLC (“CIP”). CIP, which stands for Cornerstone Industrial Properties, is a real estate investment fund manager for leveraged real estate investment funds. CIP created and sold three illiquid, non-traded REITs, two of which are Cornerstone REITS and one Meadowbrook REIT. Thus, the value of the CIP shares depends solely on the performance of these REITs. However, these REITs have struggled to produce cash flow to their investors. In fact, investors in CIP have reported that they have not received any payments since making their investment. Unfortunately, last year, CIP informed investors that their interests are worthless.
Many investors purchased CIP at the recommendation of their brokers who advised them that it was a low risk, safe investment, thereby misrepresenting the product. In some cases, brokers put a substantial portion of their client’s assets in CIP, resulting in an unsuitable over-concentration in a single product. Further, brokerage firms are required to conduct adequate due diligence before approving a product for sale to their customers. We believe that many firms failed to perform this basic due diligence in connection with marketing and selling CIP. Consequently, CIP investors may be able to recover some of their losses by filing an individual securities arbitration claim against their brokerage firm, for sales practice violations which led to substantial losses in their investment portfolios.
Investors who purchased CIP can contact KlaymanToskes to explore their legal rights and options, and to determine if they are eligible to file a claim or lawsuit to recover their investment losses.