Last year RAIT Financial Trust, a Philadelphia based real estate investment trust (REIT), filed for chapter 11 bankruptcy with the motive of selling its assets to Fortress Investment Group LLC for a hefty amount of almost $175 million. Haselkorn & Thibaut is currently investigating RAIT Financial Trust for investors.
Many investors reportedly incurred losses in their investments made into the RAIT financial trust. If you or some you know has also suffered from a loss through investment into the RAIT, please call 1-800-856-3352. We believe investor attorneys at Haselkorn & Thibaut can help you recover your losses.
The RAIT Financial Trust was founded in 1997 and invested in real estate provided debt financing options to the real estate industry. Unfortunately, the trust has never been able to achieve stable figures in terms of return, market value, or income.
Up till May 11th, 2018, the REIT was reportedly listed and trade as “RAS” on the New York stock exchange. Apart from that, it managed investments made in commercial real estate properties such as apartments, hotels, and related loans. Despite early indicators of problems with “RAS”, broker-dealers continued to lure investors on board and unfittingly suggest them to invest in the security. Due to an exceeding number of security claims, Haselkorn and Thibaut are now investigating the matter.
A financial advisor that performs extensive market research and engages in the business of trading securities on behalf of a customer or entity. Many individuals trust brokers with their riches in hopes of attractive returns through active management. Both financial advisors and broker-dealers are supposed to be responsible for financial advisors that help investors make the best possible choice when it comes to investing. They need to take several factors into account, such as; the investors’ age, risk tolerance, wealth, prior experience, and financial goals. In short, financial advisors and broker-dealers need to make sure their suggestions are adequate and match the risks of the investor.
If a brokerage firm or broker misguides a customer and convinces them to make unsuitable investments that they can be responsible for the loss. Moreover, the fundamental purpose of hiring a broker is to get a better picture of risks associated with a particular investment. As we see an increasing amount of security claims against the RAIT Financial Trust, the credibility of these financial advisors and brokerage firms are undoubtedly questionable.
Haselkorn & Thibaut is a national investor law firm that serves the general public by safeguarding and ensuring investor regulations/rights are complied with. We have locations in Florida, New York, Arizona, Texas and North Carolina. We offer a free consultation to investors to review their portfolios and determine options for recovery of losses.
