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Further, some brokers allegedly sold the HIT REIT to retirees or elderly clients close to retirement. HOSPITALITY INVESTORS TRUST INVESTOR ALERT: KlaymanToskes Investigates 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. Many investors are not fully aware of the problems and risks associated with these investments before purchasing them. All too often, investors trying to exit or access their money are faced with two bad options: sell the shares directly back to the sponsor at a heavily discounted price or sell the shares for pennies on the dollar through the limited secondary markets. That figure represents a substantial decrease from the REITs original share price of $25/share. For more information on The White Law Group, visitwww.whitesecuritieslaw.com. If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment. Their investor toll-free number is 1-800-856-3352. The maximum amount of payments made per CVR will not exceed $6.00 and will not be transferable, except in limited instances such as the death of the holder. Written by The White Law Group August 25, 2021 Login to Read More Join Now PrintFriendly Author: Martina Bellini 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. Investor Alert: Hospitality Trust Investors Bankruptcy The troubled Hotel REIT declared bankruptcy on May 19, 2021 after its unstructured debt ballooned to $1.3 billion, according to its filing. Contact us today for a FREE consultation. Hospitality Investors Trust Bankruptcy: Investors May Have Options California-based REIT Sunstone Hotel Investors gave control of the Hilton Times Square to its special servicer, Torchlight Investors, in December. If so, you may be able to participate in a lawsuit. Moreover, we will do our best to keep you updated and manage expectations along the way. It was a risky investment from the beginning, because it did not have assets or own real estate properties. Hospitality Investors Trust no longer has sufficient cash fund its obligations and Brookfield is the only likely provider of additional liquidity, according to its 2020 annual report. Hospitality Investors Trust - Overview, News & Competitors - ZoomInfo Healthcare Trust Inc. is a publicly registered non-traded REIT (real estate investment trust) that was sponsored by AR Global. On May 19, 2021, Hospitality Investors Trust Inc., a non-traded REIT that owns a portfolio of hotel properties, According to filings, each share of Hospitality Investors Trust common stock outstanding will be cancelled and exchanged for a right to receive contingent cash payments (CVR). As a result, for a significant time period you may be unable to assess the value of your non-traded REIT investment and its volatility.. How did so many retail investors, including retirees and seniors, come to hold shares of the REIT? Then, during a HIT REIT quarterly investor presentation in April of 2018, the company reported. Speak with a lawyer today to learn more. An investor in Hospitality Investors Trust, a publicly registered non-traded REIT formerly known as American Realty Capital Hospitality Trust, has filed a lawsuit claiming gross abuse of trust by certain company executives and directors, the former property managers and advisor, former sponsor AR Global, and AR Global's senior executives. The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinoisand Seattle, Washington. Blog, Current Investigations. The company reportedly decided not to make required capital reserve payments to the mortgage lender in April and May 2020 which resulted in events of default under the 92-Pack Loans. Joe Peiffer, Responsible Attorney. We can help you recover damages for these losses by pursuing your claim, on a contingent fee . Further, in February of 2019 the Board of Directors announced that it suspended the Companys Share Repurchase Program. At the moment an investor purchased HIT, they were automatically at a significant disadvantage due to the fees and commissions charged. 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. Since its inception, HIT REIT has had serious problems, which ultimately resulted in AR Capitals former CFO being sentenced to federal prison. Many debts under the plan are to be satisfied in full, including those of general unsecured creditors. Annual Meeting/Annual Report | HIT REIT This meant that the fund had not had any net income and did not own any properties. To learn more about the firms investigation, please see: Hospitality Investors Trust Decreases NAV close to 40%. About Hospitality Investors Trust, Inc. Our law firm has been in existence for more than 65 years, and is recognized as one of the preeminent law firms in the United States. Hospitality Investors Trust (HIT) Lawsuits - Compensation & Help Our firms investigation has revealed that some brokers and financial advisors allegedly sold the HIT REIT as a conservative, safe, asset backed, or moderate risk investment. Copyright 2023 AlphaBetaStock.com All Rights Reserved | AlphaBetaStock.com is a financial news publisher that does not offer any personal financial advice or advocate the sale or purchasing of any investment/security. Bachelor in International Trade, post graduate in Financial Engineering (FIA-SP) and MBA candidate in Economics. Hospitality Investors Trust REIT Lawsuit Investigation, Gender Discrimination against Transgender and Nonbinary People, Cole Credit Property Trust III (CCPT III). Hospitality Investors Trust CEO Jonathan Mehlman. Your inquiry will be immediately reviewed by one of our attorneys who handles securities litigation. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. If you or a loved one have suffered investment losses on your investment in Hospitality Investors Trust, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation. Even worse, HIT REIT is now in bankruptcy. There are two types of REITs: publicly traded and non-traded. Hospitality Investors Trust is a publicly-registered, non-traded REIT, formerly called American Realty Capital Hospitality Trust (ARC Hospitality Trust). After all, a non-traded REIT is considered to be a complex, illiquid, and high-risk investment, not suitable for many retail investors. Hospitality Investors Trust REIT Shares Crash. Investors Staring at a Broker dealers are required to perform adequate due diligence on any investment they recommend. There were numerous conflicts of interest within the trust. This law blog website is managed by MileMark Media. Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. You also can request a free private and confidential evaluation by clicking Free & Confidential Consult. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Rosenheim is a city in Bavaria, Germany.It is an independent city located in the centre of the district of Rosenheim (Upper Bavaria), and is also the seat of its administration.It is located on the west bank of the Inn at the confluence of the rivers Inn and Mangfall, in the Bavarian Alpine Foreland.It is the third largest city in Upper Bavaria with over 63,000 inhabitants. Hospitality Investors Trust (HIT) is a publicly registered non-traded real estate investment trust (REIT), formerly known as American Realty Capital Hospitality Trust. As of April 2020, the company had 100 residential assets that had an overall value of 2Bn. 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.. Non-traded REITs, like Hospitality Investors Trust often lack liquidity. The White Law Group continues to investigate potential securities claims involving the liability brokerage firms may have for recommending Hospitality Investors Trust to its clients. Brookfield hotel REIT sues insurers for denying pandemic claims Hospitality Investors Trust Losses - Investigation - The White Law Group HIT REIT Hospitality Investors Trust Losses update April 8, 2021 Possible bankruptcy Have you suffered losses investing Securities Investigation Hospitality Investors Trust Inc. Are you concerned about Hospitality Investors Trust Inc. losses? Read more about what judges say about us. If we take your case under a contingency fee arrangement, you wont owe our firm any legal fees unless we are able to recover money for you. The bankruptcy court must enter a confirmation order no later than June 23, 2021. Davids advocacy has generated major recoveries for consumers impacted by financial fraud. Based on law firm verdicts and settlements exceeding $4 billion, our securities fraud lawyers are committed to seeking justice for the victims of investment fraud and misconduct. 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). HIT was originally a blind pool offering, further making the investment highly speculative. Investors looking to sell alternative investments often have difficulty finding a buyer, and can suffer significant losses on the sale. The lawsuit also alleges: negligence, breach of fiduciary duty, and negligent supervision. HIT REIT has yet to declare a Net Asset Value (NAV) for 2020. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. This may provide some brokers with enough incentive to make unsuitable investment recommendations. My in-laws lost their retirement funds to a dishonest broker. It owns a portfolio of a hundred properties across 29 states in the US. They have an obligation to make investment recommendations that are consistent with their clients risk tolerance, net worth, investment objectives and experience in the market. As of April 2020, the company had 100 residential assets that had an overall value of 2Bn. The company has yet to declare a Net Asset Value for 2020, but as of December 31, 2019, it was $8.35 per share, a 9.3% decrease from the 2018 NAV. For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510. 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 example, several executives in the trust have financial interests in other REITs and other non-traded business development companies. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors. All copies must include this copyright statement. The company notedthat it was trying to preserve liquidity in response to the coronavirus pandemicand in conjunction with actions taken by the companys franchisors temporarily suspending obligations of hotel owners to perform capital improvements and fund capital reserves,according to SEC filings. Our contingency fee agreements are usually based on a percentage of the amount we recover for our clients. 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. Led by attorney Peter Mougey, the past President of the national securities bar PIABA, our Securities and Business Tort Department has represented more than 1,500 investment fraud victims across the country in state and federal court and securities industry arbitration. AR Capital is the now-infamous company that sponsored billions of dollars of non-traded REITs and other similar deals. Silver Law Group is a team of securities lawyers, forensic accountants, and support staff who are dedicated to helping investors recover losses through securities arbitration and litigation. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim. Illiquid Investment Investors may have Recovery Options. TRevPOB was $52.60 in FY 2022, compared to $45.86 in FY 2021, a 14.7% increase. Stock Loss Recovery Lawyer. 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? If you invested in Hospitality Investors Trust REIT, Contact Peiffer Wolf for a FREE CONSULTATION by calling 585-310-5140 of by filling out a Contact Form on this website. 2015 by The White Law Group, LLC All rights reserved. REIT Investors have won several securities litigations involving financial institutions with the intention of recovering from their securities losses. Hospitality Investors Trust Bankruptcy (HIT) REIT - Investor Notice We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. Analyst's Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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