hospitality investors trust lawsuit

To learn more about the firms investigation, please see: Hospitality Investors Trust Decreases NAV close to 40%. According to the US Securities and Exchange Commission, [b]ecause they do not trade on a stock exchange, non-traded REITs involve special risks. Indeed, the prospectus reiterates, You should purchase these securities only if you can afford a complete loss of your investment., HITs board of directors reduced the REITs net asset valueits total assets minus its total liabilitiesseveral times in recent years. Hospitality Investors Trust REIT was formed in July 2013 by AR Capital, a now-infamous company in the non-traded REIT space that has sponsored over $20 billion in deals. Hospitality Investors Trust Begins Bankruptcy Proceedings - The DI Wire In June 2017, for instance, HITs NAV per share was estimated at $13.20 as of March 30th, 2017, a decline of approximately 38.6 percent year-over-year from the previous NAV of $21.48/share, according to The DI Wire. 2015 by The White Law Group, LLC All rights reserved. We can help you recover damages for these losses by pursuing your claim, on a contingent fee . Our contingency fee agreements are usually based on a percentage of the amount we recover for our clients. For more information on The White Law Group, visitwww.whitesecuritieslaw.com. REITs like this are only suitable for savvy and wealthy investors, because these complex investment products are often risky and highly illiquid, meaning investors may be stuck and not able to access their money. HOSPITALITY INVESTORS TRUST INVESTOR ALERT: KlaymanToskes Hospitality Investors Trust REIT Investigation - Class Actions Lawsuits Hospitality Investors Trust REIT and its operating partnership filed petitions for bankruptcy and investors are filing lawsuits to recover losses. The White Law Group, LLC Announces Potential Securities Claims Hospitality Investors Trust, Inc. is a real estate investment trust which owns a diversified portfolio of strategically-located hotel properties throughout North America within the select service markets of the hospitality sector. We are smart, experienced, and dedicated professionals who work tirelessly for our clients and take pride in the pursuit of justice on their behalf. Those payments, which are not guaranteed, are reportedly set at a maximum amount of $6.00 a share and are generally not transferrable. Thus, the securities law firm of Peiffer Wolf has begun another investigation into any and all brokers and advisors who recommended NorthStar Healthcare REIT to investors. Even worse, HIT REIT is now in bankruptcy. KALOS CAPITAL Lawsuit Filed - Securities Lawyer These professionals are ethically bound to tell their clients about the risks associated with recommended investments. If so, the (312) 238-9650 | Fax (312) 238-8950 | (888) 637-5510 | 125 S. Wacker Drive, Suite 300, Chicago, Illinois 60606The information you obtain at this site is not, nor is it intended to be, legal advice. As of April 2020, the company had 100 residential assets that had an overall value of 2Bn. All copies must include this copyright statement. Hospitality Investors Trust CEO Jonathan Mehlman. Hospitality Investors Trust (HIT), a non-trading REIT (formerly American Realty Capital Hospitality Trust), filed for Chapter 11 bankruptcy over the weekend leaving investors with massive losses. For example, several executives in the trust have financial interests in other REITs and other non-traded business development companies. Hospitality Investors Trust Bankruptcy (HIT) REIT - Investor Notice Fill out the form on this page and let us know what your experience was. Damian BairdSuspended from the Securities Industry, Peakstone NYSE Listing Disappoints Shareholders. Led by attorney Peter Mougey, the past President of the national securities bar PIABA, our Securities and Business Tort Department has represented more than 1,500 investment fraud victims across the country in state and federal court and securities industry arbitration. You may have a claim. Contact us today for a FREE consultation. Get a free and confidential consultation. For more information, please read our full disclaimer. He was named to the Top 40 Under 40 by Daily Journal and a Rising Star in Class Actions by Law360. Investors were advised that they would receive $6 per share as contingent payment in lieu of their shares which would be canceled. As a result, for a significant time period you may be unable to assess the value of your non-traded REIT investment and its volatility.. Eerily reminiscent of AFIN, VEREIT, and ARC NYC REIT, HIT REIT has experienced the same dramatic decrease in share prices for investors. Davids advocacy has generated major recoveries for consumers impacted by financial fraud. Though COVID hit the hotel industry hard in 2020, Hospitality Investors Trusts share values had plummeted for years prior to the pandemic, and the for gross abuse of trust by an investor in 2018. Previously in January of 2017, the company had suspended distributions indefinitely, significantly harming investors. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. They have an obligation to make investment recommendations that are consistent with their clients risk tolerance, net worth, investment objectives and experience in the market. Hospitality Investors Trust (HIT) is a publicly registered non-traded real estate investment trust (REIT), formerly known as American Realty Capital Hospitality Trust. In this case, the REIT is not traded on the exchanges. The White Law Group Files Another Lawsuit Involving Hospitality

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