A Financial Industry Regulatory Authority panel sided for the investor against David Lerner Associates Inc. in the first case involving Apple REITs to go to a hearing. The FINRA panel ordered David Lerner to pay full compensatory damages of $24,450 to the investors and reimburse the investors for the filing cost. The panel did not award punitive damages, costs or attorneys fees in the claim filed by attorney Keith Griffin.
Vernon Litigation has been investigating fraud involving non-traded REITs for more than three years and has filed more than $5 million in non-traded REIT claims on behalf of investors. For more information, see our blog, www.reitattorneys.com.