The Securities Arbitration Law Firm of Klayman & Toskes Files Another Arbitration Claim Against LPL Financial As It Continues To

  The Securities Arbitration Law Firm of Klayman & Toskes Files Another
  Arbitration Claim Against LPL Financial As It Continues To Investigate
  Claims On Behalf of Inland Western REIT n/k/a Retail Properties of America
  Investors

Business Wire

NEW YORK -- February 13, 2013

The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”),
www.reitfraudloss.com, announced today that it filed a claim against LPL
Financial (“LPL”) to recover damages sustained in Inland Western REIT n/k/a
Retail Properties of America (NYSE: RPAI), LaeRoc 2004-2005 Income Fund,
LaeRoc Edge Fund, and LaeRoc 2002 Income Fund. The securities arbitration
claim was filed with the Financial Industry Regulatory Authority (“FINRA”),
and seeks damages of $338,000.

According to the claim, the Claimant’s LPL advisor recommended that she invest
her Trust’s assets into four illiquid, non-traded investments, which included
Inland Western and three LaeRoc Funds. The assets in the Trust were supposed
to be placed in lower risk products so that the money would be preserved.
Unfortunately, the LPL advisor did not adequately explain the risks associated
with these products, and inappropriately placed the Trust’s assets at risk by
exposing them to speculative investments. To make matters worse, the LPL
advisor recommended that the Claimant reinvest the dividends generated by
Inland Western, which only exasperated the losses as the share price declined
in value.

Last week, LPL agreed to pay up to $2.5 million to settle claims brought by
Massachusetts for failure to supervise registered representatives who sold
non-traded REITs. The complaint focused on the following seven REITs: Inland
American, Cole Credit Property Trust, II, Cole Credit Property Trust, III,
Cole Credit Property 1031 Exchange, Wells REIT II, W.P. Carey Corporate
Property Associates 17 and Dividend Capital Total Realty. Massachusetts found
that REIT sales at LPL contained violations, including sales made in violation
of the State’s 10% concentration limits, sales made in violation of prospectus
requirements, and sales made in violation of LPL compliance practices.
Massachusetts also found that LPL representatives received limited training on
REITs.

Investors who purchased Inland Western REIT, LaeRoc 2004-2005 Income Fund,
LaeRoc Edge Fund, LaeRoc 2002 Income Fund or other direct investments from LPL
or other 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 direct investments, 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.

Contact:

Klayman & Toskes, P.A.
Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire, 888-997-9956
 
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