SAN FRANCISCO--(BUSINESS WIRE)--The law firm of Girard Gibbs LLP today announced that it is investigating Inland American Real Estate Trust, Inc. for possible violations of federal securities laws. The Inland American lawsuit investigation focuses on the company’s recent announcement that it is being investigated by the Securities and Exchange Commission for potential violations of federal securities laws relating to its fees and administration. Inland American investors who wish to learn more about the investigation, and persons with information relating to the investigation, should contact Girard Gibbs toll free at (866) 981-4800.
Inland American is the largest non-traded REIT, with $11.2 billion in real estate assets. On Monday, the company disclosed in its quarterly report that the SEC had initiated an investigation into the REIT “to determine whether there have been violations of certain provisions of the federal securities laws.” The potential violations at issue were described by the company as “regarding the business manager fees, property management fees, transactions with affiliates, timing and amount of distributions paid to investors, determination of property impairments, and any decision regarding whether the company might become a self-administered REIT.”
Inland American, like many non-traded REITs, recently announced a reduction in its per share value, which has dropped down to $7.22 per share, a significantly reduction from the REIT’s initial offering price of $10 per share.
Girard Gibbs is investigating whether Inland American or its officers and directors have violated federal securities laws. If you invested in Inland American REIT and would like to learn more about this investigation, or have questions concerning your legal rights, contact Girard Gibbs at (866) 981-4800 or visit our website: Girard Gibbs Inland American REIT Investigation.
Girard Gibbs LLP is one of the nation’s leading firms representing investors, employees, consumers and small businesses in cases involving securities, antitrust, employment, personal injury, and consumer protection laws. The firm’s senior partners, Daniel Girard and Eric Gibbs, have been selected for inclusion in The Best Lawyers in America® 2012 and Northern California Super Lawyers, and have earned AV-Preeminent ratings from Martindale-Hubbell, recognizing them in the highest class of attorneys for professional ethics and legal skills.