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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
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Rex Investment Loss Recovery Blog
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  • Losses On Direct Invest TIC Investments May Be Recoverable

    Rex Securities Law is investigating the recovery of losses for investors who purchased Tenant in Common (TIC) investments sponsored by Direct Invest, a company headquartered in Boston and run by William F. Rand, President, and Peter W. Evans, Principal.

    Direct Invest real estate deals, also known as 1031 exchanges, were sold nationwide from 2006-2008 by various broker/dealers and financial planners, including:

    • Invest Financial
    • LPL Financial
    • National Planning Corp.
    • Omni Brokerage
    • Pacific West Securities
    • Regent Financial Group
    • SagePoint Financial
    • Welton Street Advisors

    Direct Invest sponsored a number of deals, including these:

    • Direct Invest Braintree Park (Braintree, MA)
    • Direct Invest Brookfield Commons (Richmond, VA)
    • Direct Invest Heron Cove (Merrimack, NH)
    • Direct Invest International Trade Dr (Richmond, VA)
    • Direct Invest Clark's Hill (Framingham, MA)
    • Direct Invest Omni Way (Chelmsford, MA)
    • Direct Invest N Parham Rd. (Baltimore, MD)
    • Direct Invest Cabot Drive (Baltimore)
    • Direct Invest 829 Middlesex(Billerica, MA)
    • Direct Invest Landover Rd (Landover, MD)
    • Direct Invest Riverbend (Hartford)
    • Direct Invest 615 Route 303 (Blauvelt, NY)
    • Direct Invest University (Waltham, MA)
    • Direct Invest Winding Brook (Glastonbury, CT)

    A Tenant in Common investment is a real estate investment where multiple parties share ownership of property. The deals sponsored by Direct Invest include Class A/B warehouse, Class A&B office space, and industrial properties.

    Many investors were convinced to buy these investments based upon misrepresentations and omissions by the selling broker as to the nature of the risks and without adequate explanation of the illiquid nature of the investment. TIC investments typically generated very high commissions for the broker and his firm.

    Time May be Running Out For Bringing Claim

    FINRA arbitration rules make it difficult, and sometimes impossible, to pursue claims on purchases made more than six years prior to the date of filing an arbitration claim. Investors who wish to pursue claims for losses on TIC investments would be wise to act before more than six years has run from the date you purchased the investment. If six years has already passed you should consult knowledgeable counsel as they may still be opportunity to bring an action based on a theory that statutes of limitation and jurisdictional rules were tolled.

    If you have experienced losses in TIC investments sponsored by Direct Invest, you may be able to recover all or a part of your losses through FINRA arbitration. To learn more about FINRA arbitration, see this.

    Contact us for a free consultation to discuss your legal rights.

    Nationwide representation.

    Rex Securities Law

    561 391 1900

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

    Mar 22 12:02 PM | Link | Comment!
  • FINRA Awards $290k On Oil & Gas/ Note Private Placements

    March 2013-FINRA Case # 12-1157
    A couple from Minnesota was awarded $290,000 against David Theis, a broker for QA3 Financial Corp., following an arbitration alleging failure to supervise, misrepresentation, negligence, breach of fiduciary duty, common law fraud and promissory estoppel.

    The claimants alleged they were convinced to invest in the following investments based upon the false and misleading misrepresentations of the selling broker Theis:

    • IMH Secured Loan Fund
    • Black Diamond Energy
    • Arci Terra Note Fund III
    • Clearwater 2008 Note Program
    • United Development Funding

    During the course of the proceeding, QA3 filed for bankruptcy, staying the proceeding as to them. The case continued against broker Theis

    Beware of Small Undercapitalized Broker Dealers

    This case points out why investors should be wary when dealing with smaller independent broker dealers who may be thinly capitalized. If a broker makes a mistake like this in your account, you want to know that the firm has adequate resources to compensate you and not be forced into bankruptcy.

    Before entrusting your nest egg to a small broker dealer you should obtain copies of their most recent financials and determine their net capital to assure yourself that your trust is well placed. You should also review the FINRA disclosures for the broker you are thinking of placing your account with. See this for more information on how to access the FINRA BrokerCheck website.

    If you have questions about your brokerage account or stock market losses, contact us for a no charge consultation.

    Nationwide representation.

    Rex Securities Law

    561 391 1900

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

    Mar 21 3:12 PM | Link | Comment!
  • Losses On Cabot Tenant In Common Investment?

    If you are one of the many investors who have experienced losses on a Cabot TIC investment, you may be able to recover all or a part of those losses through FINRA arbitration.

    We have represented a number of individuals recently who purchased one of the Cabot Realty TIC investments based upon the misrepresentations of the selling broker or due to the fact that the broker made a recommendation that was unsuitable in light of the age,health and financial sophistication of the investor.

    TIC investments were sold with the promise of tax savings and a high interest or distribution rate. Generally there was little discussion about the fact that the investments are illiquid, making it difficult to raise cash in the event of a financial emergency.

    Brokers were induced to sell these alternative investments because the commissions on these products are significantly higher than other investments. LPL Financial, Sigma Financial and many other independent broker dealers distributed these products.

    For a list of other tenant in common sponsors, other than Cabot Investment Properties, follow this link.

    If you have questions about losses on a tenant in common investment or other stock market losses, please contact us for a no charge consultation.

    Nationwide representation.

    Rex Securities Law

    561 391 1900

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

    Mar 21 2:28 PM | Link | Comment!
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