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Investors Win Arbitration Award Against David Lerner & Associates Regarding Apple REIT’s

Recently, on May 17, 2012, investors won a Financial Industry Regulatory Authority (“FINRA”) arbitration award against David Lerner & Associates (“David Lerner”) based upon Claimants’ allegations that David Lerner committed sales practice abuses when selling the Apple REIT Nine. Claimants were awarded the full amount of damages they sought, in the amount of $24,450, and were required to return the Apple REIT to David Lerner.

If you have suffered losses from investments in Apple REITs through David Lerner, please call Lax & Neville LLP for a consultation at (212) 696 – 1999.