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Articles Posted in FINRA Arbitration

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Griffin Capital Essential Asset REIT Investors May Have Substantial Losses Based On Recent Tender Offer For $6.89/Share

Investors in Griffin Capital Essential Asset REIT, Inc. (“Griffin Essential”), may have substantial losses based on a tender offer to purchase shares for $6.89 a share — or $3.11 a share less than the offering price of $10 a share.  As recently reported, on December 1, 2017, third-party real estate…

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“Yield Enhancement” Options Strategies, Including UBS “Iron Condors” Program, May Cause Outsized Losses

In response to the low interest rate environment that has prevailed for a decade, many brokerage firms — including well-known wirehouses such as Merrill Lynch, Morgan Stanley, and UBS — have reportedly recommended various options strategies to their customers as supposedly safe and efficient mechanisms to enhance income.  However, when…

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Vista Drilling Programs Investors Solicited by Brokers May Have Arbitration Claims

Investors in various oil drilling programs offered by Vista Resources, Inc. (“Vista”), may be able to recover losses sustained on their investment through arbitration before FINRA, in the event that the investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature…

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Secondary Market Pricing for NorthStar Healthcare Income REIT Suggests Investors Have Principal Losses

Investors in NorthStar Healthcare Income, Inc. (“NHI REIT”) are likely facing substantial principal losses based on recently reported transactions.  Although liquidity is limited, NHI REIT investors may be able to sell shares through a limited and fragmented secondary market.  Recently, NHI REIT shares were listed for sale on a secondary…

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Scott William Palmer, Former Janney Montgomery Scott Broker, Barred by FINRA

Former financial advisor Scott William Palmer (CRD# 817586), who was most recently affiliated with Janney Montgomery Scott LLC (“Janney”) (BD# 463), has voluntarily consented to a bar from the securities industry pursuant to a Letter of Acceptance, Waiver & Consent (“AWC”) accepted by FINRA Enforcement on April 10, 2018.  Without…

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Benefit Street Partners Realty Trust Net Asset Value Reported As $19.17/Share: Sale Options Limited

Investors in Benefit Street Partners Realty Trust, Inc. (“Benefit Street” or the “Company”) may have arbitration claims to be pursued before the Financial Industry Regulatory Authority (“FINRA”), if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the…

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SEC Formally Charges Wedbush Securities Over Claims Brokerage Firm Failed to Supervise Timary Delorme

On March 27, 2018, the Securities and Exchange Commission (“SEC”) announced formal charges against Wedbush Securities Inc. (“Wedbush”, CRD# 877) with respect to allegations that the broker-dealer failed to supervise its employee, Ms. Timary Delorme (f/k/a Timary Koller) (“Delorme”).  Based on its investigation, the SEC alleged Wedbush ignored numerous red…

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The Parking REIT, Inc. Announces Immediate Suspension of Cash Distributions

As recently reported, the Board of Directors of The Parking REIT, Inc. have unanimously authorized a suspension of the company’s cash distributions and stock dividends, effective immediately.  In conjunction with filing a Form 8-K with the SEC on March 23, 2018, the company issued a press release indicating, inter alia,…

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Alaska Financial Company III Promoters Allegedly Misappropriated Funds and Violated SEC “Regulation D”

The Securities and Exchange Commission (SEC) reportedly has settled charges against the operators of a real estate investment business that caused millions in loses to investors.  Up to 300 investors may have lost money on interests in a fund known as Alaska Financial Company III, LLC (“AFC III”), which two…

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Wells Fargo Advisers Reportedly Under Investigation by Massachusetts

Massachusetts reportedly has begun an investigation concerning whether Wells Fargo Advisors engaged in unsuitable recommendations, inappropriate referrals, and other actions related to its sales of certain investment products to customers.  Recently, Wells Fargo disclosed that it is evaluating whether its personnel and registered representatives may have made inappropriate recommendations and referrals…

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