Moody National REIT II Investors Sue Calton and Associates For Up to $500K
Non-Traded Real Estate Investment Recommendations Were Unsuitable For a Retiree Couple
Investors who suffered losses in Moody National REIT II should contact the Shepherd Smith Edwards and Kantas REIT Fraud Attorneys (investorlawyers.com) right away to explore their legal options. Already, we are representing a number of clients whose brokers unsuitably recommended this non-traded real estate investment trust (non-traded REIT).
Recently, we filed a $500K FINRA lawsuit against Calton & Associates on behalf of a retired Florida couple. They are conservative senior investors who made it very clear to their financial advisor, then-Calton & Associates broker Jack Maiz, that they did not want to take on any unnecessary risk, as this was their retirement money.
Despite reassuring them that only safe investments would be recommended, their Calton & Associates financial advisor then went on to not only unsuitably recommend Moody National REIT II, a risky, unproven, illiquid private placement, but also, he appears to have highly concentrated their account with it.
In their non-traded REIT loss claim, our clients are alleging overconcentration, unsuitability, misrepresentations and omissions, lack of supervision, fraud, breaches of duty, negligence, gross negligence, and more.
How Can Our Seasoned Moody National REIT Fraud Lawyers Help?
The majority of brokers that sold this non-traded real estate investment trust came from mid-sized firms with a record of selling this type of alternative investment to customers. A lot of the financial advisors claimed to be retirement experts, which is why a number of Moody REIT investors are older seniors.
Moody National REIT II started to show obvious signs of trouble around the COVID-19 pandemic when its revenues declined by 60%, from $85M in 2019 to $39.4M in 2020. Its financial woes have continued since. The non-traded REIT has recently sold some of its hotel properties for tens of millions of dollars. It has 14 hotels left in its portfolio.
Shepherd Smith Edwards and Kantas REIT Fraud Attorneys are representing a number of Moody National REIT II investors against broker-dealers in their efforts to recoup their losses. This means that we are well-versed in why these investments failed and the part that brokerage firms played.
If we decide to work together, you will become part of our unit of investor lawsuits involving Moody National REIT II losses, which can only benefit your case.
With over 100 years of collective experience in securities law and the securities industry, our team of savvy non-traded REIT recovery attorneys, legal assistants, consultants, and others has the skills and resources you need to maximize your chances for a full recovery.
Many of our firm’s clients are retirees and seniors who hoped to keep their assets safe and instead ended up suffering serious losses. We understand how this can impact you at this point in your life, especially.
Should we decide to work together, we will do what we can to make you financially whole again through our dedicated efforts in arbitration, mediation, or litigation. This is not the kind of lawsuit you want to pursue on your own.
Contact our Moody National REIT Fraud Attorneys
Call (800) 259-9010 or fill out this form.