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D. Daxton White
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The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. We pride ourselves on providing quality legal services to our clients and handle securities... More
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The White Law Group's Securities Fraud Blog
  • TNP Strategic Retail Trust Announces Interest Rate Cut. 0 comments
    Nov 13, 2012 9:41 AM

    It is being reported that Thompson National Properties LLC has ducked a default on one of its note programs, but investors will be getting less of a payout on their TNP Strategic Retail Trust investment than they were promised.

    In a filing with the Securities and Exchange Commission last week, the REIT reported that a majority of note holders in the program voted to modify the terms, moving it out of default.

    The SEC filing also stated that investors will see sharply lower interest payments and the notes' maturity has been extended until 2016.

    Although it appears that Thompson has avoided default at this time, this is certainly not good news for investors.

    The White Law Group continues to investigate REIT investments like Thompson National Properties, and specifically, the liability that brokerage firm's have for selling these products. Brokerage firms and financial advisors have a fiduciary duty to perform adequate due diligence on any investment they recommend and to ensure that such recommendations are appropriate for their client in light of that particular clients' age, income, investment experience, investment objectives, and net worth.

    If you purchased TNP 12% Notes or another Thompson National Properties investment and are interested in information regarding your litigation options, please call the securities attorneys of The White Law Group at 312/238-9650 for a free consultation.

    For more information on The White Law Group, visit http://www.whitesecuritieslaw.com. For more information on The White Law Group's investigation into TNP Strategic Retail Trust, visit http://www.whitesecuritieslaw.com/2012/11/13/bad-news-for-tnp-strategic-retail-trust-investors/

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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