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Inland American – InvenTrust

Aidikoff, Uhl & Bakhtiari is investigating investor losses in InvenTrust Properties Corp (formerly Inland American REIT). Inland American, now InvenTrust, has been the largest issuer of non-traded REITs in the U.S. Non-traded REITs are not traded on a stock exchange. They have large up-front sales fees, and ongoing fees. Inland American’s executives have been sued for self-dealing. They allegedly paid excessive management fees to the company’s affiliated management company and sold their own stock at inflated prices.

REITs like InvenTrust are inherently risky and illiquid products. Ameriprise, LPL, and other brokerage firms sold millions of shares of Inland American REITs perhaps due to the large commissions which amounted to more than 7%.

Inland American (InvenTrust) has also used investors’ own money to make “distributions” to them. This has misled investors into thinking that they have a safe, income-generating investment.

FINRA requires brokerage firms to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.

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