If you suffered losses investing in New York REIT, The White Law Group may be able to help.
According to their website, New York REIT is a publicly traded real estate investment trust focused on acquiring and operating commercial real estate in New York City. The company seeks to provide its shareholders with both stable dividend income and appreciation potential.
New York REIT Inc., formerly American Realty Capital New York Recovery REIT, announced this week that Gregory Hughes has resigned from the company’s board of directors due to disagreements with the board and corporate governance.
In August, the board agreed to dissolve and liquidate the company after terminating a proposed merger with JBG Companies late last year following public opposition by investors Michael Ashner, Steven Witkoff, and their jointly owned entity, WW Investors LLC.
New York REIT later settled with the two dissident investors and agreed to expand its board of directors to include Hughes, James Hoffmann, and Craig Bouchard. Hoffmann resigned from the board at the end of January.
The shares have been depressed since founder Nicholas Schorsch allegedly became involved in a scandal in 2014 over accounting inaccuracies at American Realty Capital Properties Inc. Schorsch resigned late that year from the boards of New York REIT and 12 other companies.
NYRT is a publicly traded real estate investment trust that owns 19 commercial real estate properties, including office and retail properties, located in New York City. Shares of NYRT closed at $9.96 on Tuesday.
Free Consultation
If you invested in New York REIT and would like to discuss your litigation options with a securities attorney, please call The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
Tags: American Realty Capital New York Recovery REIT class action, American Realty Capital New York Recovery REIT investigation, American Realty Capital New York Recovery REIT lawsuit, American Realty Capital New York Recovery REIT losses, broker churning, Chicago broker fraud attorney, Chicago churning attorney, Chicago FINRA attorney, Chicago investment fraud attorney, Chicago securities attorney, Chicago securities lawyer, churning turnover ratio, Excessive brokerage fees, Excessive buying and selling securities, excessive financial advisor commissions, excessive financial advisor fees, Excessive stockbroker commissions, Excessive stockbroker fees, financial advisor account churning, financial advisor Churn & burn, financial advisor churning attorney, financial advisor churning lawyer, financial advisor Excessive commissions, Financial advisor Excessive fees, financial advisor Excessive transactions, Financial advisor frequent trades, Florida churning attorney, Florida churning lawyer, Frequent broker commissions, Frequent brokerage fees, how much trading is too much, Illinois churning attorney, Illinois churning lawyer, investment advisor account churning, investment advisor churn and burn, investment advisor excessive commissions, investment advisor excessive fees, investment advisor excessive transactions, investment advisor frequent trades, New York REIT class action, New York REIT complaint, New York REIT current value, New York REIT dissolution, New York REIT dissolved, New York REIT dividends, New York REIT investigation, New York REIT liquidation, New York REIT litigation, New York REIT losses, New York REIT Nicholas Schorsch, New York REIT performance, New York REIT recovery options, New York REIT securities attorney, Nicholas Schorsch lawsuit, Nicholas Schorsch scandal, stockbroker Account churning, stockbroker churning and burn, stockbroker churning attorney, stockbroker churning lawyer, stockbroker excessive commissions, stockbroker excessive fees, stockbroker excessive transactions, Stockbroker frequent trades, Vero Beach securities attorney, Vero Beach securities fraud attorney, Vero Beach securities lawyer, what is churning, what is excessive trading, what turnover ratio is considered churning Last modified: March 7, 2017
