The 3 Hungry Men Business David Lerner and Associates

David Lerner and Associates

David lerner associates lawsuit are brokers who sell investment products to retail investors. Those products include mutual funds, equities and options. They also offer financial planning services and insurance products like variable annuities. The firm has been in business for over 40 years and has a presence throughout the United States. The corporate headquarters is located in Syosset, New York. The company has approximately 183 employees.

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The firm is known for its marketing of proprietary investments, such as nontraded real estate investment trusts. In the past, the firm has been sanctioned by state regulators over its sales of REITs. In one case, the New Jersey Securities Bureau sanctioned the firm over its sales of Apple REITs to retirees. The firm was forced to pay $12 million in restitution to investors.

In another instance, the firm was fined by Finra for selling illiquid REITs to retirees. Investors in the REITs were unable to liquidate their positions quickly, which resulted in losses. The firm was fined $700,000, but $200,000 of that was suspended due to the cooperation it displayed in the case.

The firm has been the subject of a number of pending investor disputes over sales of Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund (NASDAQ: SOAEX). These proprietary investments are alleged to be unsuitable for investors. The national investor law firm, Haselkorn & Thibaut, is investigating these claims. The firm has a history of failing to properly supervise its representatives.

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