ARC New York City REIT—Unsuitable Investment Recommendations Investigation
American Realty Capital (ARC) New York City REIT, Inc. is Offering its Shares Via a Secondary Market for Private Placement; Broker Sales Practices Investigated
Have you or a loved one invested funds in ARC New York City REIT? American Realty Capital (ARC) New York City REIT, Inc. has offered its shares to investors through a private placement, according to reports currently under review by investor right attorneys Jason Kane and James Booker.
Peiffer Wolf Carr & Kane securities practice lawyers are investigating the sales practices of certain brokerage firms and investment professionals that may have improperly recommended and sold ARC New York City REIT to their customers, without first ensuring that the recommendations were suitable to those investors. No allegations of misconduct are made as to ARC NYC REIT.
Licensed stockbrokers may only recommend to their customers investments that are suitable for those investors, in view of their risk profile and investment experience, among others. Investors who believe they may have been improperly recommended ARC New York City REIT, are encouraged to contact attorneys Jason Kane or James Booker with any useful information or for a free, no obligation discussion about their options.
American Realty Capital New York City REIT, Inc., a development stage company which invests in real estate properties, is valued at $785 million, had an IPO price of $23.75 and the Company’s Board allegedly approved an estimated net asset value of $21.25 per share, according to reports presently under review by attorneys Jason Kane and James Booker.
ARC New York City REIT is a Maryland corporation formed on December 19, 2013 and invests in properties located in the five boroughs of New York City, with a focus on Manhattan, according to ARC New York City’s Prospectus.
In comparison to traditional investments such as stocks and mutual funds, non-traded REITS typically incorporate a larger degree of risk, in addition to lack of liquidity. A significant number of investors may not aware of the risks associated with REITs.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of improper or unsuitable investment recommendations and are currently investigating the sales practices of certain brokerage firms and investment professionals that may have improperly recommended and sold ARC New York City REIT to their customers without first ensuring that the recommendations were suitable to those investors. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they have lost money as a result of improper recommendations to invest in ARC New York City REIT may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998- 0520 or via e-mail at email@example.com or firstname.lastname@example.org.