The Securities Arbitration Law Firm of Klayman & Toskes Files $200,000 Claim
Against Ameriprise Financial Services As It Continues To Investigate Claims
On Behalf of Inland Western REIT Investors
NEW YORK -- December 12, 2012
The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”),
www.reitfraudloss.com, announced today that it filed a claim against
Ameriprise Financial Services (“Ameriprise”) to recover damages sustained in
Inland Western REIT n/k/a Retail Properties of America (NYSE: RPAI), and an
unsuitable annuity. The securities arbitration claim was filed with the
Financial Industry Regulatory Authority (“FINRA”), and seeks damages of
According to the claim, the Claimant, age 63, was solicited by his Ameriprise
advisor to place about $200,000 of his retirement assets into Inland Western
REIT which at the time was an illiquid, non-traded Real Estate Investment
Trust (“REIT”). The shares, which now trade on the NYSE, have declined about
50%. As the Claimant’s Ameriprise advisor had represented that this REIT was a
safe, low risk product, the Claimant never imagined that it would suffer
declines of this magnitude, nor was he willing to expose his money to this
level of risk. An additional $300,000 was tied up in a fixed annuity which had
penalties for selling early. As a result, nearly 50% of Claimant’s account was
invested in investments that were not freely saleable. This recommendation by
Ameriprise was unsuitable.
Investors who purchased Inland Western or other REITs from Ameriprise or other
FINRA brokerage firms can contact K&T to explore their legal rights and
options. K&T is presently pursuing claims on behalf of investors from across
the country who sustained losses by purchasing these types of products.
If you wish to discuss this announcement or invested $250,000 or more Inland
Western or other REITs, please contact Steven D. Toskes, Esquire or Jahan K.
Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on
the web at www.reitfraudloss.com.
Klayman & Toskes, P.A.
Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire, 888-997-9956
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