Concerned about investment losses in Progress Residential L.P.?
Have you suffered investment losses in Progress Residential L.P.? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
According to Bloomberg, Progress Residential, L.P. owns and operates single-family rental homes. It also offers property management and maintenance and support services. The company was formerly known as Fundamental REO, L.P. and changed its name to Progress Residential, L.P. in September, 2012. Progress Residential, L.P. was incorporated in 2012 and is based in Scottsdale, Arizona.
Progress Residential L.P. raises money through Reg D private placement offerings. These Reg D private placements are then typically sold by brokerage firms in exchange for a large up front commission, usually between 7-10%, as well as additional “due diligence fees” that can range from 1-3%.
The Risks of Reg D Private Placements
The trouble with alternative investment products, like Progress Residential L.P., is that they involve a high degree of risk and are typically sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.
The White Law Group is investigating the liability that brokerage firms may have for improperly selling private placements like Progress Residential L.P..
Broker dealers that sell alternative investments are required to perform adequate due diligence on all investment recommendations. They must ensure that each investment recommendation that is made is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
However, another problem with Reg D private placements is the high sales commissions and due diligence fees the brokers earn. Brokers have an enormous incentive to push the product to unsuspecting investors who do not fully understand the risks of these types of investments. They can easily misrepresent the basic features of the products – usually focusing on the income potential and tax benefits while downplaying the risks.
Fortunately, FINRA does provide for an arbitration forum for investors to resolve such disputes. If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be found liable for investment losses in a FINRA arbitration claim.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Progress Residential L.P. or another private placement investment, please contact 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. The firm represents investors throughout the country in claims against their brokerage firm.
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