NBRS files arbitration claim against David Lerner Associates for the sale of Apple REITS Napoli Bern Ripka Shkolnik, LLP (NBRS) filed an arbitration claim on behalf of an elderly beneficiary of a trust against David Lerner Associates, Inc. (”David Lerner”) for unsuitable recommendations, misrepresentations and other violations in connection with the Apple Real Estate Investment Trusts (REITs). Since 1992, David Lerner has earned nearly $600 million in commissions for selling the Apple REITs. NBRS is currently investigating Apple REIT Six, Apple REIT Seven, Apple REIT Eight, Apple REIT Nine and Apple REIT Ten, which almost exclusively invested in extended stay hotels. According to the complaint, the Apple REITs are alleged to be improperly valued and were sold to investors through misleading practices. On May 27, 2011, Financial Industry Regulatory Authority’s (FINRA) Department of Enforcement filed a complaint against David Lerner for the sale of the Apple REITs and alleged David Lerner targeted unsophisticated and elderly customers, recommended unsuitable investments without adequate due diligence, made material misrepresentations and omissions, and maintained unfair trade practices. According to FINRA’s complaint, David Lerner priced the Apple REITs on client’s statements at $11 per share despite major fluctuations in the commercial real estate market, net income declines, increased
Helping people file a Social Security Disability claim The process of filing a Social Security Disability claim can be lengthy and overwhelming. The complicated application process may take as long as several years and involves examination by healthcare providers and compiling all the necessary medical history documentation and paperwork
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leverage through borrowings, and return of capital to investors through distributions. The beneficiary of the trust, like many other investors, allegedly was not made aware of these risks and now sues to recover the initial investment. The law offices of Napoli Bern Ripka Shkolnik, LLP are available to represent defrauded David Lerner and Apple REIT investors. Our attorneys have successfully represented thousands of investors in claims against their brokers and broker-dealers for claims, including suitability, misrepresentation and/or omissions, churning, negligence, breach of contract, breach of fiduciary duty, and other violations of the law. If you invested in: • Apple REIT 6 • Apple REIT 7 • Apple REIT 8 • Apple REIT 9 • Apple REIT 10 Call Napoli Bern Ripka Shkolnik, LLP today for a free consultation.
needed in order to prove your physical or mental disability to the government. The government has a very strict definition of “disability” and the guidelines associated with receiving social security disability benefits are extensive. The government denies 64% of initial disability claim applications. Sadly, it often denies people who deserve disability benefits simply because they did not provide the proper evidence proving their disability. There are options if your Social Security Disability claim is denied, including requesting a Reconsideration and presenting the claim before an Administrative Law Judge, Appeals Council and ultimately to a Federal District Court. You have the right to have an attorney represent you. If you or someone you know needs to file a Social Security Disability claim or has filed a claim and been denied, contact us today. Our attorneys can assist you by handling communications with the Social Security Administration (and/or state agencies), filling out the necessary paperwork, working with your health care providers to ensure comprehensive medical fact gathering, requesting Reconsideration if the initial claim is denied, and by representing you before an Administrative Law Judge or Court if necessary.