David Lerner and Associates is the Subject of Investor Disputes

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The brokerage firm david lerner and associates has been the subject of several investor disputes concerning unsuitable recommendations to invest in energy related investments. Investment counselors for the firm have been accused of failing to adequately disclose the risks associated with these investments as well as mismatching investors to these investments based on their investment objectives and tolerance for risk.

What is an example of associate?

The Financial Industry Regulatory Authority (FINRA) has censured and fined david lerner and associates numerous times in the past over these issues. Most recently, FINRA has fined a former david lerner and associates branch manager for recommending to customers that they invest in two illiquid oil and gas limited partnerships, even though the investment was unsuitable for their goals and financial situation.

Currently, it is believed that the firm has a significant number of current and pending customer disputes relating to investments in the Energy 11, Energy Resources 12, and Spirit of America Energy mutual funds. These energy-related investments have seen a dramatic devaluation and have resulted in significant losses for many investors.

If you invested in any of these funds with a representative of david lerner and associates, you may be entitled to recover your losses through a FINRA arbitration claim. Contact us today to learn more about your options for recovering damages through this process.

In addition to the REIT allegations, david lerner and associates has settled for millions of dollars with regulators in the past regarding sales of their proprietary REIT funds. For example, in a previous settlement with Finra, the firm was ordered to pay $12 million in restitution to investors who bought shares in Apple REIT Ten, which is a nontraded REIT that pays out distributions, or income, on a regular basis to its holders.

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