Lax & Neville, LLP a leading securities arbitration law firm has been contacted by investors in Apple REIT and we are currently investigating the sales of the Apple REIT’s by David Lerner and other firms to the public. On March 31, 2011, the Financial Industry Regulatory Authority (“FINRA”) charged David Lerner & Associates (“David Lerner”), a Long Island based broker-dealer, based upon its misrepresentations regarding the Apple REIT Ten, an unlisted $2 billion Real Estate Investment Trust. FINRA alleged that David Lerner unsuitably invested unsophisticated and elderly investors in the illiquid Apple REIT Ten. David Lerner significantly profited from, at the expense of thousands of innocent investors, when underwriting and selling approximately $7 billion of Apple REIT securities.
If you are a victim who invested in the Apple REIT Ten, and would like to retain Lax & Neville, LLP, please call Lax & Neville, LLP at (212) 696 – 1999.