Damian BairdSuspended from the Securities Industry, Peakstone NYSE Listing Disappoints Shareholders. The British-born chef reportedly flew home early from Rome, leaving his wife Lauren Fried, and their two young children, Alfie, five, and Isla, two, in the Eternal City. New Orleans, LA 70130 Please disable your ad-blocker and refresh. According to recent SEC filings, the board of Hospitality Investors Trust has approved an estimated net asset value (NAV) $9.21 per share for the companys common stock, as of December 31, 2018. For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510. The maximumamountof payments made per CVR will not exceed$6.00and will not be transferable, except in limited instances such as the death of the holder. Broker dealers that fail to adequately disclose risks or make unsuitable investment recommendations can be held liable for investment losses in a FINRA arbitration claim. About Hospitality Investors Trust, Inc. Hospitality Investors Trust Inc. class action, Hospitality Investors Trust Inc. complaints, Hospitality Investors Trust Inc. investigation, Hospitality Investors Trust Inc. liquidation, Hospitality Investors Trust Inc. secondary sales. Or you may email our attorneys directly, shareholder and attorney Michael Bixby may contacted at mbixby@levinlaw.com. Unfortunately, many of the investors didnt even know the loss because they were both unaware of the risks of the investment and it is not traded on the exchanges. When a broker fails to fulfill these obligations, the firm that employs them may be held accountable for losses suffered by an investor to whom an unsuitable investment recommendation was made. According to the filings, each share of Hospitality Investors Trust common stock outstanding is cancelled and exchanged for a right to receive contingent cash payments (CVR). The White Law Group announces the filing of FINRA Lawsuit involving High Risk Non-Traded REITs and BDCs The White Law Group announces the Have you suffered investment losses in a Hospitality (Non-traded) REIT? The firm is led by Scott Silver, a former Wall Street defense attorney who has been representing customers in securities and investment fraud cases since 2002. Hospitality Investors Trust Losses - Investigation - The White Law Group Similar to American Finance Trust, Inc. (AFIN), VEREIT, and ARC NYC REIT, HIT REIT is another stark reminder of how disastrous non-traded REITs can be for investors. Epiq11.com builds on a library of cases spanning two decades - the largest repository of such data in the industry outside of the federal court system. This field is for validation purposes and should be left unchanged. Get free professional market insights and stock/ETF reports that contain actionable opportunities written by a former financial advisor and Capitalist who has been investing in the markets for 20+ years. On May 19, 2021, Hospitality Investors Trust Inc., a non-traded REIT that owns a portfolio of hotel properties, filed for Chapter 11 bankruptcy in Delaware to restructure its $1.3 billion unsecured debt. The White Law Group continues to investigate potential securities claims involving broker dealers who recommended Hospitality Investors Trust (HIT REIT) to investors. Further, HIT REIT said that lower estimates of occupancy, higher labor costs, and sales and marketing were offset by lower discount rate and capitalization rate estimates, driven by tightening market spreads and progress on its brand-mandated property improvement plans. Hospitality Investors Trust, Inc. (HIT REIT) is a real estate investment trust (REIT) which owns a diversified portfolio of strategically-located hotel properties throughout the United States within the select service market of the hospitality sector. Ashford Hospitality Trust : Files Lawsuit Against Cygnus Capital To Combined with other smaller fees and expenses, approximately 86% of an investors investment was actually being used for instruments by the Trust. The risks materialized and HIT REIT filed for bankruptcy in May 2021. Many debts under the plan are to be satisfied in full, including those of general unsecured creditors. Hospitality Investors Trust Lawsuit In January 2014 sales activity continued under the company's name, but was suspended in November 2015. Specifically, Peiffer Wolf is investigating any and all brokers and advisors who recommended ARC HIT REIT and any non-traded REITs to investors. Scott focuses his law practice on securities arbitration and litigation and plaintiff-side class action litigation, representing individual investors and institutions in claims against brokerage firms, investment advisors, commodities firms, hedge funds and others. Hospitality Investors Trust is negotiating a deal that would give Brookfield financial control over its 100 hotels as part of a possible Chapter 11 filing, Bloomberg News reported. Stock Loss Recovery Lawyer. He was named to the Top 40 Under 40 by Daily Journal and a Rising Star in Class Actions by Law360. Hospitality Investors Trust REIT and its operating partnership filed petitions for bankruptcy and investors are filing lawsuits to recover losses. Further, the fund had not even identified any properties to acquire with the offering proceeds. Investors in this real estate fund, formerly known as American Realty Capital Hospitality Trust, have seen their share values plummet, and a lawsuit, filed recently in federal court, charges malfeasance and seeks damages. Hospitality Investors Trust REIT was formed in July 2013 by AR Capital, a now-infamous company in the non-traded REIT space that has sponsored over $20 billion in deals. As of today, we have completed approximately one-half of our PIP program; we do not expect to reinstate distributions prior to the completion of all remaining PIPs, which is likely to continue for at least the next two years. In May 2021, The Hospitality Investors Trust filed for Chapter 11 bankruptcy protection, which will almost certainly result in investors losing all or most of their principal. Because no public trading market for our shares currently exists, the document warns, it will be difficult for our stockholders to sell their shares and, if our stockholders are able to sell their shares, it will likely be at a substantial discount to the public offering price.. Selina Hospitality PLC Reports Fiscal 2022 Financial Results HIT filed for Chapter 11 bankruptcy in May 2021, according to a report by The DI Wire. Hotel REIT Preps Deal to Give Brookfield Control in Bankruptcy The White Law Group continues to Hospitality Investors Trust, Inc. (HIT REIT) 2021 Lawsuit *UPDATED* Did your broker recommend an investment in Hospitality Investors Trust Blog, Current Investigations, Securities Fraud. If you were sold GPB products or other illiquid private placements from KALOS CAPITAL and/or their former brokers , contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment . The White Law Group is investigating potential securities fraud claims involving broker-dealers improper recommendation that investors purchase high-risk non-traded REIT investments, like Hospitality Investors Trust(aka HIT REIT). In December, Hospitality Investors Trust turned the cash payment to payment-in-kind to preserve liquidity. (504) 523-2434 Kahane is a director at Business Development Corporation of America, American Reality New York Recovery REIT, Inc., and several other American Reality companies. Further, some brokers allegedly sold the HIT REIT to retirees or elderly clients close to retirement. Please provide any additional information about your inquiry. You should consult an attorney for individual advice regarding your own situation. Then, during a HIT REIT quarterly investor presentation in April of 2018, the company reported. Real estate investment trusts (REITs) arecomplex and inherently risky products. Hospitality Investors Trust Investor Sues AR Global Abuse Trust Thus, the securities law firm of Peiffer Wolf Carr Kane & Conway (Peiffer Wolf) has begun another investigation into American Realty Capital (ARC). Central Trade & Transfer announced a selling price of 46 cents per HIT share in March 2021. They must ensure that all recommendations are suitable for the investor. The recovery of millions of dollars of money lost by investors due to the negligent and fraudulent actions of some of the largest firms on Wall Street is a part of the work done by Haselkorn & Thibaut. Broker dealers are required to perform adequate due diligence on any investment they recommend. Certifications and Licenses: CFP, Cambridge, CEA, CPA-20, CPA-10, PQO, FBB-100 and CA-300. To review a summary of our fees and costs, click Fees & Costs. Non-traded REITs are known to be risky investments suitable only for a narrow band of investors. He assumed the Investor Relations position at Valora Asset Management on january/2020. Healthcare Trust Inc. REIT Lawsuits - Compensation & Help He worked in five different areas at Bradesco Bank, ending his activities at the FX Trading Desk. Did your Advisor Recommend a Hospitality REIT? This means that investors could have suffered over 95% losses on their investment, or even worse. Usually that is not the case when dealing with legal matters but you guys (gals) rock., Ive always found them to be extraordinary counsel in terms of their preparation and their professionalism.. On May 19, 2021, Hospitality Investors Trust Inc., a non-traded REIT that owns a portfolio of hotel properties, filed for Chapter 11 bankruptcy in Delaware to restructure its $1.3 billion unsecured debt. The White Law Group, LLC Announces Potential Securities . However, brokers and financial advisors who improperly recommended HIT or other similar products may be legally responsible for the losses suffered by their clients. If you invested in HIT REIT and have lost part of your investment, not received your distributions, or remain stuck in the uncertain REIT, you may be eligible for monetary recovery. AR Capital has been subjected to significant regulatory action and fines and the former CFO was even sentenced to federal prison. To learn more about The White Law Group visit www.whitesecuritieslaw.com. Non-traded REITs, like Hospitality Investors Trust often lack liquidity. On May 19, 2021, Hospitality Investors Trust, Inc. ("HIT") and its operating partnership, Hospitality Investors Trust Operating Partnership, L.P. (the "OP" and, together with HIT, the "Debtors," and, together with their subsidiaries, the "Company"), entered into a restructuring support agreement (the "RSA") with Brookfield Strategic Real Estate
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