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The Securities Arbitration Law Firm of KlaymanToskes, announced today that it filed a claim against LPL Financial to recover damages sustained in Inland Western Real Estate Investment Trust n/k/a Retail Properties of America (NYSE: RPAI) (“Inland Western REIT”) and Inland American REIT. The claim was filed with the Financial Industry Regulatory Authority (“FINRA”), and seeks damages of about $1,000,000.
According to the claim, LPL represented to the Claimants that the Inland REITs were as safe as if the money was invested in a bank account. While the Claimants wanted safe investments, LPL recommended that they invest over $1,000,000 into these REITs which at the time were both non-traded, thereby over-concentrating the Claimants’ account into two REITs. The Claimants’ account was concentrated in two REITs that were illiquid and incorporated significant risk. When the value of the REITs declined, the Claimants’ investment portfolio was exposed and sustained substantial losses.
Investors who purchased Inland Western, Inland American or other REITs from LPL Financial or other FINRA brokerage firms can contact KlaymanToskes to explore their legal rights and options. KlaymanToskes is presently pursing claims on behalf of investors who sustained losses by purchasing REITs including Apple REITs sold by David Lerner Associates, AmREIT, Behringer Harvard REITs, Cornerstone Core Properties REIT, and Wells REITs.
If you wish to discuss this announcement or invested $250,000 or more Inland Western, Inland American or other REITs from LPL Financial or other FINRA brokerage firms, please contact KlaymanToskes at 888-997-9956.