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LPL – Non-Traded REIT’s

May 4, 2016 by webman

LPL settled charged in connection with the offer and sale of Non-Traded REIT’s.  The investigation stemmed from the complaint filed by the Commonwealth of Massachusetts Securities Division into similar non-traded REIT sales practices with other broker-dealers. The Massachusetts complaint charged LPL with dishonest and unethical business practices.  Under the terms of the settlement, Boston-based LPL agreed to remediate losses for all non-traded REITS sold by the firm from January 1, 2008 through December 31, 2013 in violation of prospectus standards, state concentration limits or LPL’s own guidelines.  If you have or had an account with LPL and invested in these products you may have grounds for seeking recovery for your losses.

Filed Under: Current Investigations

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    I needed an attorney with FINRA and business expertise and came across Bob Gonser. He quickly grasped the complex issues at hand that other attorneys could not, and led me skillfully through the entire arbitration process. It was a 9 month process that eventually led to a 5 day arbitration because the Respondent not only fought every step of the way, but raised the stakes with a $1.9mm Counterclaim. With Bob’s guiding hand, we entered the arbitration well prepared but faced a number of hostile w… Read more
    Michael R - San Ramon, CA
    Bob: I just wanted to send you a note now that all this is behind us, to let you know how much we appreciate your effort on our behalf. If it was not for you, we would never have been able to recover anything from our broker/dealer. My sincere thanks for all your help.
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    Bob: You should feel proud of your professional performance in handling my mother’s securities arbitration case earlier this year. My family and I extend our personal thanks to you and Marie for your hard work to make our case a success. We were extremely pleased with your performance.
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    Through your hard work and smarts, you secured a good settlement for me. I would never have been able to recover a penny without your help. I thanked you at the time, but just wanted to be sure you know how grateful I remain.
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