Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

David Lerner Associates' Apple REIT 8 Also in Trouble

According to customer statements from David Lerner Associates, the value of Apple REIT 8 hasn’t ever changed, even during the recent real estate downturn. In reality, the REIT is even now facing difficulties and may have to surrender some of its properties to lenders.

Although investors have continued to receive monthly payments, most of that money has been borrowed. Even though borrowing has become more difficult, every month customers continue to receive statements that the shares of Apple REIT 8 are valued at $11. That apparent lack of volatility could be misleading to investors and create an illusion that the REIT is low risk when it is anything but.

Just one day after FINRA’s accusations regarding Apple REIT 10, a company began a tender offer for up to 5% of the Apple REIT 8 shares. The company offered to tender the stock for just $3, which is a far cry from the value of $11 listed on customer statements.

The issues with inaccurate unlisted REIT value listings were brought to light by FINRA in 2009, but the Apple REITs have been called “the only funds” to continue to list the offering price instead of an adjusted value. This just goes to show that Apple REIT 10 may not be the only risky product from David Lerner Associates.

The securities arbitration attorneys with Meyer Wilson have represented investors nationwide in FINRA arbitration claims. If you have been affected by the Apple REIT fraud, contact us at (614) 532-4576 today to discuss your case.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram