Rex Securities Law is investigating former registered representative David A. Duhn of Staples, Minnesota, on behalf of a retired Minnesota investor who was sold a very large concentration of Wells REIT II (now known as Columbia Property Trust).
Wells REIT II is a non publicly traded real estate trust that was initially sold for $10 per share. Our client was not advised that the investment was illiquid. In October 2013 in an initial public offering shares of Wells REIT II were converted to Columbia Property Trust in a reverse four-to-one split. Investors in Wells REIT II have suffered losses of up to 40% of the original purchase price.
FINRA records indicate that Duhn was registered with Crown Capital Securities from 10/2003-12/2010. As of March 2014, Duhn is not currently registered with any FINRA broker dealer.
Non publicly traded REITs were sold to investors with the promise of regular and dependable distributions and with representations that the principal value of the investment was protected.
If you have information related to this investigation, we would appreciate hearing from you. If you suffered losses as a result of investing David Duhn, you may be able to recover all or a part of those losses through FINRA arbitration. Contact us to speak with an experienced securities attorney to discuss your legal rights.
561 391 1900
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.