The White Law Group is investigating securities claims involving broker-dealers recommendation of Smartstop Self Storage REIT Inc.
Are you concerned about your investment in SmartStop Self Storage REIT? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
According to an 8-K filing with the SEC last week, the board of directors of SmartStop Self Storage REIT, Inc. suspended its share redemption program (SRP) once again. It has also suspended its distribution reinvestment plan (DRP) as it reviews alternatives to “provide liquidity to its stockholders.”
The company notes in the filing that distributions for the month of March, payable on April 15, 2022, will be payable in cash and that redemption requests made for the quarter ended March 31, 2022 will not be honored.
Prior to March 7, 2022, the SRP had been partially suspended, except for repurchases sought in connection with a stockholder’s death, qualifying disability, confinement to a long-term care facility or other exigent circumstances.
To learn more about the investigation, please see:
The Trouble with Non-Traded REITs
Compared to traditional investments, such as stocks, bonds and mutual funds, non-traded REITS, are considerably more complex and involve a high degree of risk. Unfortunately, many investors were not made adequately aware of the risks and liquidity problems associated with REITs.
The White Law Group has represented numerous investors in claims against the brokerage firm that recommended non-traded REITs to investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Recommendations should be in line with the investor’s age, risk tolerance, net worth, and investment experience.
Broker dealers that fail to adequately disclose risks or make unsuitable investment recommendations can be held liable for investment losses.
If you have invested in SmartStop Self Storage REIT and would like to speak to a securities attorney about the potential to recover your investment losses, 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 Seattle, Washington.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.
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