In November 2011, FINRA fined Wells Investment Securities, Inc. $300,000 for using misleading marketing materials in the sale of Wells Timberland REIT, Inc., a non-traded Real Esate Investment Trust. Here is a link to FINRA’s press release.
Wells Securities was the wholesaler for the public offering of Well
Timberland REIT, which invested in timber producing real estate. FINRA found that from May 2007 to September 2009, Wells distributed over 100 advertising and marketing materials that contained misleading, unwarranted or exaggerated statements. In addition the Wells ads did not make it clear that the investment did not yet qualify as a REIT for tax treatment, one of the selling points highlighted to potential investors.
Many investors nationwide suffered losses in Wells Timberland, Wells REIT II and other non-traded REITs.
If you have losses we may be able to help you recover some or all of your losses.
Rex Securities Law , located in Boca Raton, FL, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
561 391 1900