Christopher Miller (CRD 4044818) has a customer dispute on BrokerCheck that settled on October 7, 2026 for $50,901. The disclosure lists Emerson Equity as the firm.
Soreide Law Group is investigating possible claims on behalf of investors against brokers who sold them Washington Prime Group (NYSE: WPG). WPG, created in May 2014, describes itself as a retail real estate investment trust (REIT) and leader in owning, managing , acquiring and developing retail properties. Apparently, WPG couples an investment grade balance sheet with a United States real estate portfolio. Supposedly, the firm aims to improve cash flow by rigorously managing assets and providing United States retailers with growth opportunities.
Apparently, WPG owns 106 retail assets which consist of shopping centers and malls. It slated $87,000,000.00 towards redevelopment in 2017 and up to $125,000,000.00 in 2018. Evidently, WPG has assigned as much as $325,000,000.00 to update its department stores including Sears and J.C. Penny, but possible bankruptcies could detrimentally affect those plans. Particularly, WPG management acknowledged that a Sears bankruptcy and Bon-Ton bankruptcy could negatively affect WPG portfolio in 2019 through lost tenancies and rents. Moreover, WPG’s portfolio could be detrimented through the potential closure of several hundred J.C. Penny and GAP stores to the extent that it maintains those entities in its tenant portfolio.
Investors should be concerned that WPG dividend yield depends substantially on Washington Prime Group's ability to generate returns and significant capital. Critically, WPG’s current dividend payout may need to be rebalanced because of bankruptcies and store closes. After all, if a company’s payout ratio is too high, the dividend may not be sustainable. As of January 11, 2019, WPG’s payout ratio is 250.00% and its forward annual dividend yield is 17.95%. Moreover, as of January 11, 2019, WPG closed at $5.28 per share which is $0.65 above its 52 week low.
Occasionally, brokers sell aggressive REIT investments like WPG to conservative investors whose objectives are income and principal protection. Often times, brokers inappropriately recommend that investors purchase REITs because of their attractive yields, but downplay or misrepresent the risk of the REITs in the process. Further, brokers sometimes push REITs instead of other investments given the higher fees and commissions.
Has a broker misrepresented WPG or sold you unsuitable WPG investments? If you experienced losses by investing in WPG, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Our firm has recovered millions of dollars for investors who have suffered losses due to broker and brokerage firm misconduct. We represent clients on a contingency fee basis and advance all costs.
Christopher Miller (CRD 4044818) has a customer dispute on BrokerCheck that settled on October 7, 2026 for $50,901. The disclosure lists Emerson Equity as the firm.
A customer dispute that settled for $80,000 on July 16, 2026 is the newest entry on the BrokerCheck report of Stephen Kerutis (CRD 2345517). The clients in that matter alleged unsuitable recommendations, and Truist Investment Services is the firm on the disclosure.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
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