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Our law firm is investigating claims on behalf of investors of the Thompson National Properties 12 Percent Notes Program a/k/a TNP 12 Percent Notes. It was recently reported that Thompson has suspended interest payments on the Thompson National Properties 12 Percent Notes Program. The TNP 12 Percent Notes Program raised $21.5 million from 418 investors in 2008 and 2009, according to a filing with the Securities and Exchange Commission.
Our investigation shows that the Notes were sold as conservative, fixed income investments which many investors relied upon to support their income needs. Many of these investors may have been elderly or retired, and could not afford to subject their investment to any siginficant risk.
Investors who purchased these Notes from a full-service brokerage firm may be able to recover their losses by filing an individual securities arbitration claim against their firm. Under rules established by the Financial Industry Regulatory Authority (“FINRA”), brokerage firms have an obligation to make suitable recommendations, disclose all of the risks associated with the products the recommend, and conduct adequate due diligence of the securities products the sell before approving approving the products for sale to their retail clients.
To determine if you are eligible to file a claim or lawsuit to recover your losses in the Thompson National Properties 12 Percent Notes Program, and to discuss the differences between securities arbitration and class action, please contact one of our securities attorneys for a free consultation.