Investment Fraud Lawyers

Pursuing recovery of investment losses for investors, through FINRA arbitration and securities class actions.

We represent individuals and organizations that have suffered financial loss as a result of investment fraud, Ponzi schemes, broker misconduct, unsuitable investment recommendations, or abusive practices by financial institutions.

We prosecute cases on our clients’ behalf in federal or state court or FINRA arbitration, against members of the financial industry nationwide.  Depending on each particular matter, we may represent clients in class actions, group cases, or individually.

We often talk to investors who lost more than their savings.  Sometimes they also lost trust in their advisor, friend, community leader, fellow parishioner, or family member who cheated them.  Other times they lost confidence in the “system” – the financial industry – and question whether the financial institutions whom they trusted to do their job did so, or whether those institutions put their own interests above their customers’ interests.  Other times they lost hope they would ever see a penny back from their investments.

We encourage investors to talk to us about their losses, so that we can determine – at no charge – whether there are any legal options to seek compensation.  We encourage them to educate themselves as to their case, so they can make informed decisions.

We have helped hundreds of investors who lost their savings because of questionable investment advice or fraudulent investment products.  Each case is different; we would be honored to review your case.

If you believe you have lost money as a result of investment fraud, financial advisor misconduct, or abusive practices by your financial institution, please contact our law firm for a free evaluation of your case.  You can call us at 888-998-0520 or you can send us a message through the “Contact Us” form on this page.

Featured Article

FINRA Aims for Greater Transparency in Non-traded REIT Statements

New rule changes proposed by the securities industry regulators, if adopted, would give investors a truer picture of the costs to buy shares of non-traded real estate investment trust (REITs).

The Peiffer Rosca securities lawyers often represent investors in non-traded REITs in cases arising out of unsuitable sales of such products to investors or out of negligent due diligence practices in connection with certain problematic non-traded REITs.  The Peiffer Rosca attorneys welcome the regulators’ proposal to increase transparency as non-traded REITs.

The rule changes proposed by the Financial Industry Regulatory Authority (FINRA) are still subject to Securities and Exchange Commission’s approval. But if ratified they will do away with the practice of broker-dealers listing the per-share value of non-traded REITs at $10, the common price that brokers sell them to clients.

The new rules will take into consideration the various fees and commissions paid to brokers and dealer managers, reducing the share price on each customer account.

The non-traded REIT industry saw sales last year double to $20 billion from 2012. It has been eagerly awaiting the FINRA rule proposal.

Whether a change in per-share valuation disclosure would hurt or slow down non-traded REIT sales has been hanging over REIT sponsors and the independent broker-dealers that sell the product. Many broker-dealers had record revenue from non-traded REIT sales last year as a number of REITs had “liquidity events,” meaning that they merged with another company or were listed on an exchange.

The proposed rule has two methodologies which broker-dealers may use when an estimated value is presumed reliable, according to the 268-page FINRA proposal. They can choose between net investment and independent valuation.

For example, the net investment methodology could be used for two years following the non-traded REIT’s breaking of escrow, or when the issuer is permitted to access the offering proceeds to buy real estate.

Non-traded REITs are not required to show an estimated per-share valuation until 18 month after the sponsors stops raising funds, which in some cases can be two to three years from inception. The new FINRA rule drastically speeds up the process and investors would see a valuation of less than $10 per share.

The second method is independent valuation and could be used at any time, according to the FINRA proposal. Independent valuation consists of the most recent valuation disclosed in the issuer’s periodic or current reports and would require a third-party-value expert’s or experts’ determination

The proposed rule changes were already in the works since 2011. Subject to SEC approval, once approved they will be effective 90 days after the SEC approves it.

The Peiffer Rosca investment fraud lawyers often represent investors who lose money invested in non-traded REITs or other real estate investment programs.  Typical cases involve negligent due diligence as to such programs by those investment professionals who recommend them to the investors, or unsuitable investment recommendations that ignore the investor’s risk profile.

The Peiffer Rosca securities lawyers take most cases of these types on a contingency fee basis, advance the case expenses themselves, and only get paid for their expenses and then fees if and when they recover money for their clients.

Investors who believe they may have lost money as a result of an investment in a non-traded REIT or other real estate investment program may contact attorneys Alan Rosca or Joe Peiffer for a free, no-obligation evaluation of their recovery options, at 888-998-0520.