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Investors looking to sell non-traded REITs such as this, often have difficulty finding a buyer, and can suffer significant losses on the sale.Broker dealers are required to inform clients of the risks associated with investment recommendations.The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. SIDNEY STEIN, District Judge In 2003, a healthcare finance company called DVI, Inc. Buckley was named the Trustee of DVI's Liquidating Committee. To support this argument, Deloitte cites to portions of the complaint in which Buckley suggests that the insiders' actions also benefited DVI by "lower[ing] borrowing costs," "attract[ing] investors and lenders," and "rais[ing] capital." (Compl. Similarly, courts in several cases unrelated to this one have also concluded that Pennsylvania law does not recognize the tort of aiding and abetting fraud. North Star, a publicly registered non-traded REIT, invests in real estate debt, select equity and securities investments predominantly in the United States.
The board established a special committee comprised of the board’s independent directors to conduct a review of strategic alternatives and address potential conflicts of interest.
AR Capital-related companies have struggled to raise equity after an ARC-affiliate, American Realty Capital Properties, intentionally filed inaccurate financial reports in October 2014.
The firm eventually severed ties with the parent company and rebranded itself as Vereit (NYSE: VER).
After being hit with fraud charges by the state of Massachusetts relating to a proxy voter scandal, another affiliate, Realty Capital Securities, paid a multimillion dollar fine and agreed to terminate its business.
AR Capital terminated its offerings and stopped selling new investment products at the end of 2015.
defaulted on the interest payment that was due on its public bond debt and subsequently filed for bankruptcy pursuant to Chapter 11 of the United States Bankruptcy Code, 11 U. He now brings this action against Deloitte Touche USA LLP and Deloitte Touche LLP (collectively, "Deloitte"), which served as public auditor and accountant to DVI in the decade leading up to the company's default and bankruptcy. ¶¶ 7, 20, 42.) However, these quotes must be viewed in their full context, in which Buckley alleges, for example, that the additional capital was raised as part of DVI's "Ponzi-schemed existence." ( ¶ 42.) Moreover, this Court cannot find that the insiders' motive was dual in light of Buckley's allegation that O'Hanlon, Garfinkel and Miller diverted millions of dollars from DVI "with the intent of supporting their friends and/or building a personal empire." ( insiders' actions.