Investor Lawyers Blog
Shareholders in Lightstone Value Plus REIT I, Inc., Lightstone Value Plus REIT II, Inc., and/or Lightstone Value Plus REIT III, Inc. (sometimes referred to below as the “Lightstone REITs”) may have FINRA arbitration claims, if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.
The Lightstone REITs were sold to the public during various periods dating back to 2006 (Lightstone I), 2009 (Lightstone II), and 2014 (Lightstone III), respectively. Despite the passage of years- over fifteen years in the case of Lightstone I- none of the three Lightstone REITs has been listed on a public exchange or otherwise become liquid.
Recently, the Lightstone REITs solicited proxies seeking shareholder approval for key charter amendments including: