As we have previously reported, Inland Western Real Estate Investment Trust was recently converted, via a reverse merger, from its status as a non exchange-traded REIT to a publicly traded company-Retail Properties of America (RPAI).
Before getting too excited about the fact that the investment can now be readily sold on a public exchange, investors need to be aware of what has occurred with regard to the original value of their investment. Inland Western came out at $10 a share and after the reverse merger into Retail Properties of America, shares of that company trade at less than $9.
This equates to about $3 per share on the original $10 investment. A 70% loss.
Investors should check the terms of the merger as not all of the stock can be sold immediately.
Investors were initially told by many selling brokers that it was a low risk, safe investment that would maintain value while paying out regular and dependable distributions of income. If you bought Inland Western on the basis of similar representations, you may be able to recover your losses.
We have recently counseled a number of investors who purchased Inland Western REIT from LPL Financial and Ameriprise Financial and are in the process of filing FINRA arbitration on their behalf.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, 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.
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