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FINRA Press Release: Non-Traded REITs

FINRA Charges David Lerner & Associates Over Sale of Non-traded Apple REITs

The Financial Industry Regulatory Authority (FINRA) issued a press release yesterday in which it announced that it had

"filed a complaint against David Lerner & Associates, Inc. (DLA), of Syosset, NY, charging the firm with soliciting investors to purchase shares in Apple REIT Ten, a non-traded $2 billion Real Estate Investment Trust (REIT), without conducting a reasonable investigation to determine whether...

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