Investors who contacted Soreide Law Group regarding this product have received quotes in the secondary market for as low as $5 per share for their CNL Lifestyle Properties shares.
The Securities and Exchange Commission (SEC), has reported that CNL focused on lifestyle properties including: 23 ski and mountain lifestyle properties, 51 golf facilities, 52 senior housing properties, 19 attractions, 17 marinas and eight additional lifestyle properties.
This REIT was originally priced at $10 per share. The nontraded REIT industry has been plagued by a number of large REITs that launched at the top of the real estate market, acquired high priced assets, and then saw those assets sharply decline after the real estate bubble burst.
In March, 2012, there were 309,214,659 shares of the common stock outstanding. CNL closed itself to new investments on April 9, 2011. There was a complaint filed recently on behalf of shareholders of CNL “who purchased shares in CNL under the Company’s Distribution Reinvestment Plan (‘DRP’) on or after April 1, 2010.” According to the complaint:
"On April 1, 2010, CNL implemented a new Amended and Restated Redemption Plan and began to significantly limit the number of shares that CNL would redeem from shareholders on a quarterly basis. However, Defendants continued to sell CNL stock to existing shareholders at the inflated price of $9.50 per share until August 9, 2012, when they announced that, in consultation with an outside valuation consultant, the Board has determined that the “fair value” of CNL shareholders was only $7.31 a share."
If you’ve experienced investment losses due to your stock broker/financial advisor’s recommendations regarding CNL Lifestyle Properties, Inc., call Soreide Law Group for a free consultation with an attorney on how to potentially recover your losses: 888-760-6552.
Soreide Law Group is investigating potential investor claims involving Cambridge Investment Research Inc. after FINRA sanctioned the firm for supervisory failures involving deferred variable annuity exchanges. Investors who incurred surrender charges or other losses in connection with deferred variable annuity exchanges recommended through Cambridge should review FINRA’s enforcement action against the firm below. What Are […]
Investors potentially experienced sales practice violations by securities broker Hector Crespo Jr. (also known as Harrison Crespo Jr.) [CRD: 3015246, Melville, New York], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Crespo has worked for Aegis Capital Corp. in Melville, New York, since June 21, 2011, as a securities broker and since June […]
Soreide Law Group is investigating potential investor claims involving J.P. Morgan Securities LLC (JPMS) after FINRA sanctioned the firm over supervisory failures involving a high-risk, leveraged investment strategy. Investors who suffered losses through this strategy may have legal options and should read below for details about FINRA's action against J.P. Morgan Securities. What Was The […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com