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The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announced today that it filed a claim against LPL Financial to recover losses sustained in Inland Western Real Estate Investment Trust (“REIT”) n/k/a Retail Properties of America (NYSE: RPAI) and Leaf Equity Leasing II Limited Partnership. The claim was filed with the Financial Industry Regulatory Authority (“FINRA”), and seeks damages of $315,000.
According to the Claim, the Claimants sustained significant losses as a result of unsuitable investments made by LPL and its financial advisor. LPL recommended and purchased in the Claimants’ accounts high risk, illiquid REITs and limited partnerships that have substantially declined in value. This included investments in Inland Western REIT which LPL represented to be a conservative, safe, income producing REIT. In addition, LPL recommended that the Claimants invest in Leaf Equity Leasing II Limited Partnership. LPL also represented the Limited Partnership to be a conservative, safe, income producing investment. Overall, nearly 70% of the Claimants’ liquid net worth was placed in speculative, illiquid products, which was unsuitable.
Investors who purchased Inland Western n/k/a Retail Properties, Leaf Equity Leasing II Limited Partnership or other illiquid products from a FINRA brokerage firm 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.
KlaymanToskes, 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 lost $100,000 or more by purchasing REITs from a brokerage firm, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of KlaymanToskes, at 888-997-9956, or visit us on the web at www.klaymantoskes.com