{"id":1131,"date":"2012-09-26T17:02:52","date_gmt":"2012-09-26T17:02:52","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/09\/texas_securities_fraud_investo"},"modified":"2022-03-10T16:35:31","modified_gmt":"2022-03-10T22:35:31","slug":"texas-securities-fraud-investo","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-fraud-investo\/","title":{"rendered":"Texas Securities Fraud: Investor Sues Behringer Harvard REIT I"},"content":{"rendered":"

\t\t\t\tIn her Texas securities lawsuit<\/a>, investor Lillian Hohenstein is suing Behringer Harvard REIT I, one of the biggest nontraded real estate investment trusts. Hohenstein, who purchased 1,275 shares from the trust between 2004 and 2008, claims that the REIT, Behringer Harvard Holdings LLC, President and Chief Executive Robert Aisner, other company executives, and its board members of breach of fiduciary duty and negligence. Aisner and board members also are accused of making allegedly misleading and false statements when they recommended that investors turn down outside fund offers from those wanting to pay the REIT’s shares for as low as $180\/share. <\/p>\n

According to Hohenstein ‘s Texas REIT lawsuit<\/a>, the REIT attempted to conceal its poor performance by using investors’ own money to pay them, while simultaneously depleting the company of millions of dollars even as top executives benefited. Behringer Harvard REIT I is among the nontraded REITs that have seen their value drop significantly following the collapse of the real estate market. <\/p>\n

The REIT complaint contends that for a certain period of time, HPT Management Services LP and Behringer Advisors respectively collected fees of $77 million and $104 million, which, per the securities lawsuit, over the life of the trust is about 4% of the REITs existing assets. Behringer Harvard COO Jason Mattox, who says Hohenstein ‘s case is meritless, says the company has since lowered his fees, even waiving asset management fees of over $30 million.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

In her Texas securities lawsuit, investor Lillian Hohenstein is suing Behringer Harvard REIT I, one of the biggest nontraded real estate investment trusts. Hohenstein, who purchased 1,275 shares from the trust between 2004 and 2008, claims that the REIT, Behringer Harvard Holdings LLC, President and Chief Executive Robert Aisner, other company executives, and its board […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3750],"tags":[],"class_list":["post-1131","post","type-post","status-publish","format-standard","hentry","category-texas-securities-fraud"],"yoast_head":"\nTexas Securities Fraud: Investor Sues Behringer Harvard REIT I — Investor Lawyers Blog — September 26, 2012<\/title>\n<meta name=\"description\" content=\"In her Texas securities lawsuit, investor Lillian Hohenstein is suing Behringer Harvard REIT I, one of the biggest nontraded real estate investment — September 26, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, 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