The White Law Group continues to investigate potential securities claims involving broker dealers who recommended Hospitality Investors Trust (HIT REIT) to investors. The White Law Group continues to Hospitality Investors Trust, Inc. (HIT REIT) 2021 Lawsuit *UPDATED* Did your broker recommend an investment in Hospitality Investors Trust Blog, Current Investigations, Securities Fraud. What is happening with Hospitality Investors Trust? Hospitality Investors Trust REIT Lawsuit Investigation, Gender Discrimination against Transgender and Nonbinary People, Cole Credit Property Trust III (CCPT III). For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510. NYC, NY, USA, June 3, 2021 / EINPresswire.com / -- Last week Hospitality Investors Trust and its operating partnership filed petitions for relief under Chapter 11 of the US Bankruptcy Code . The bankruptcy plan, issued in June 2021, worsens the situation for investors, with only a potential for payouts, limited to $6 per share and not transferable. This field is for validation purposes and should be left unchanged. 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. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Eileen is involved in the firms securities practice and has over a decade of experience in the legal world. Investors who have been sold the HIT REIT unsuitably and have lost money, as a result, could seek recovery through the FINRA (Financial Industry Regulatory Authority) arbitration process. Due to the risks involved in the ownership of real estate, there is no guarantee of any return on your investment, and you may lose all or a portion of your investment., We established the initial offering price on an arbitrary basis; as a result, the actual value of your investment may be substantially less than what you pay., There are substantial conflicts among the interests of our investors, our interests and the interests of our advisor, property manager, our sub-property manager, our sponsor, our dealer manager and our and their respective affiliates, which could result in decisions that are not in the best interests of our stockholders., We are obligated to pay fees to our advisor, which could be substantial and may result in our advisor recommending riskier investments., Taken together, these factors make Hospitality Investors Trust a highly risky investment that likely was not suitable for inexperience and/or conservative investors, especially those with liquidity needs and/or those who cannot afford to lose their principal. 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. Alternative investments such as Hospitality Investors Trust Inc. are illiquid. Hospitality Investors Trust, Inc. (HIT REIT) is non-traded real estate investment trust (REIT). To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Many debts under the plan are to be satisfied in full, including those of general unsecured creditors. Investment Losses? Scott is admitted to practice in New York and Florida and the firms FINRA arbitration attorneys represents investors nationwide. Contact our firm to learn more about your options. Broker dealers that fail to adequately disclose risks or make unsuitable investment recommendations can be held liable for investment losses in a FINRA arbitration claim. Shares traded on CTT Auctions, a secondary market for non-traded REITs in September for $0.66 per share. Hospitality Investors Trust, Inc. (HIT REIT) is a real estate investment trust (REIT) which owns a diversified portfolio of strategically-located hotel properties throughout the United States within the select service market of the hospitality sector. Non-traded REITs are not traded on the public securities exchange, meaning that these REITs can often be illiquid. 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.. Six of the hospitality industry's largest hotel companies are named in a new class-action lawsuit, which claims to have uncovered an antitrust scheme to reduce competition and raise consumer prices. Gibbs Law Groupsfinancial fraudandsecurities lawyershave more than two decades of experience prosecuting fraud. How long will it take to resolve my lawsuit? This law blog website is managed by MileMark Media. The company primarily operates its hotels under a franchise or license agreement with various brands. Every case is different, and we will do our best to provide you with an estimate based on your case and our experience with similar cases. Real estate investment trusts (REITs) arecomplex and inherently risky products. Hospitality Investors Trust (HIT), formerly known as American Realty Capital Hospitality Trust, is a non-traded REIT. Entering text into the input field will update the search result below, high risk non-traded REITs, like HIT REIT. This may provide some brokers with enough incentive to make unsuitable investment recommendations. Since then, the price of HIT has decreased dramatically, reaching an estimated net asset value of $9.21 per share in December 31, 2018. Hospitality Investors Trust is a publicly-registered, non-traded REIT, formerly called American Realty Capital Hospitality Trust (ARC Hospitality Trust). Further, some brokers allegedly sold the HIT REIT to retirees or elderly clients close to retirement. Copyright 2023 AlphaBetaStock.com All Rights Reserved | AlphaBetaStock.com is a financial news publisher that does not offer any personal financial advice or advocate the sale or purchasing of any investment/security. Thus, investors and advisors were unable to evaluate the investment portfolio prior to the initial investment. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. 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. Blog, Current Investigations. REITs collect money from investors, then use it to buy properties such as hotels, shopping centers, apartment buildings, or office buildings. Our firms investigation has revealed that some brokers and financial advisors allegedly sold the HIT REIT as a conservative, safe, asset backed, or moderate risk investment. For more information on the firm, visit www.WhiteSecuritiesLaw.com. Their investor toll-free number is 1-800-856-3352. We handle cases that change lives. Last April we reported that the REIT entered into forbearance agreements with the lenders under certain of its mortgage and mezzanine indebtedness. Ashford has created an Ashford App for the hospitality REIT investor community. As of December 31, 2019, it was listed at $8.35 per share, a 9.3% decrease from the 2018 NAV. According to Law360, the Hospitality Investors Trust received court approval for its Chapter 11 bankruptcy restructuring plans. Further, in February of 2019 the Board of Directors announced that it suspended the Companys Share Repurchase Program. Hospital Investors Trust Inc financed its first $1.3 billion bonds under Chapter 11 bankruptcy filed a claim for the securities. If you are concerned about Hospitality Investors Trust losses, The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment. Last December we told you that Hospitality Investors Trust Inc. (HIT REIT), a publicly registered non-traded REIT, amended its limited partnership agreement with its investment partner, Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC. Epiq11.com builds on a library of cases spanning two decades - the largest repository of such data in the industry outside of the federal court system. Financial advisors could earn commissions and dealer management fees going up to 10% for selling the HIT REIT. CHICAGO, June 03, 2021 (GLOBE NEWSWIRE) -- The White Law Group is investigating potential securities claims involving broker dealers who may have unsuitably recommended Hospitality Investors. The White Law Group continues to HIT REIT Files for Chapter 11 Bankruptcy Protection The White Law Group continues to investigate potential securities claims involving Blog, Current Investigations, Securities Fraud. All copies must include this copyright statement. Hospitality Investors Trust CEO Jonathan Mehlman. Non-traded REITs are known to be risky investments suitable only for a narrow band of investors. Investors in this real estate fund, formerly known as American Realty Capital Hospitality Trust, have seen their share values plummet, and a lawsuit, filed recently in federal court, charges malfeasance and seeks damages. Brookfield will provide a $25 million exit facility to Hospitality Investors Trust once the bankruptcy plan has been in place. Moreover, we will do our best to keep you updated and manage expectations along the way. Free AlphaBetaStock's Cheat Sheet (No CC)! Hospitality Investors Trust (HIT) is a publicly registered non-traded real estate investment trust (REIT), formerly known as American Realty Capital Hospitality Trust. A non-traded REIT seeks to restructure $1.3 billion in unsecured debt, What Strong Gold Says About The Weak Dollar: An In-Depth Analysis On Gold Prices, Investors Watch For Earnings, Budget Battle and Recession Signs (Weekly Cheat Sheet), Yield Curve Signals Recession, Bud Loses $5B & Gold Makes New Highs (Weekly Cheat Sheet). If you are interested in a free and confidential case review, contact us at (800) 277-1193. It was a risky investment from the beginning, because it did not have assets or own real estate properties. NEW YORK, June 11, 2021 (GLOBE NEWSWIRE) -- National investor fraud law firm, KlaymanToskes ("KT"), announces an investigation on behalf of investors in Hospitality Investors Trust ("HIT . In January 2014 sales activity continued under the companys name, but was suspended in November 2015. Proskauer represented Hospitality Investors Trust in a series of restructuring transactions.Hospitality Investors Trust, Inc. ("HIT"), a public, SEC-registered real estate investment trust owning 100 hotels nationwide, This content is for members only.
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