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Robert Rex
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This blog is written by Robert H. Rex, Esq. who is a securities attorney and a passionate advocate for investors rights. With over 30 years of legal experience, 25 of which have dealt almost exclusively with the recovery of stockmarket and investment losses for mostly elderly clients, he and his... More
My company:
Rex Securities Law
My blog:
Rex Investment Loss Recovery Blog
  • Rex Securities Law Files KBS REIT Claim Vs. Ameriprise 0 comments
    May 30, 2012 5:00 PM

    Rex Securities Law is in the process of filing a FINRA arbitration claim against Ameriprise Financial for losses suffered by a retiree from Florida's west coast who has suffered significant losses as a result of investing in KBS Real Estate Investment Trust upon his retirement in 2007.

    The arbitration claim alleges that Ameriprise's broker touted KBS REIT by claiming that the investment was very similar to an investment in a bond, that the value would not fall below the $10 per share purchase price, that the investment could be liquidated if necessary and that the monthly distributions were guaranteed.

    Shortly after the purchase, KBS cancelled their share redemption program and ceased the monthly distributions. After recent regulatory pressure, KBS was forced to let investors know that the shares are worth far less than the $10 purchase price. For more on the decline of KBS REIT value, see our prior post. As we have previously discussed, time will soon be running out for investors who were misled to pursue claims related to the purchase of KBS.

    If you have losses in KBS and were misled as to the nature of the investment, you may be able to recover those losses. Contact us at 561 391 1900.

    Free consultation.
    Nationwide representation.

    Rex Securities Law

    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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