Stoll Berne is investigating LPL Financial (“LPL”) in connection with selling Real Estate Investment Trusts (“REITs”), Business Development Companies (“BDCs”) and other alternative investments to individual investors and retirees.
The products we are investigating include: Cole Credit Property Trust II, Inc., Cole Credit Property Trust III, Inc., Cole Credit Property 1031 Exchange, Dividend Capital Total Realty, Inland American Real Estate Trust Inc., Medley Capital Corporation, Medley Management Inc., Northstar Healthcare, Sierra Income, Wells Real Estate Investment Trust II, Inc., W.P. Carey Corporate Property Associates, and funds from Blackstone Group, Inc. and Starwood Capital.
Some investments are illiquid, less liquid, or nontraded and include closed-end and interval funds. Investors are sometimes unable to trade or sell illiquid and less liquid investments. It is alleged that some alternative investments sold by LPL are highly leveraged, leaving investors vulnerable to market volatility and other factors that may not have been explained to them by LPL or an investment advisor.
Investment industry rules require that investments recommended by LPL and its brokers, representatives, and advisors be suitable for a customer. Alternative investments, including REITs and BDCs, may not be suitable for many investors. These investments sometimes charge high upfront commissions and ongoing fees. For more about suitability requirements, visit FINRA’s website at:
If you are a current or former customer of LPL and you lost money in an alternative investment, we are interested in speaking with you. Contact us for a free evaluation of your potential case using the form below or by emailing attorney Cody Berne directly.