NEW YORK -- (Business Wire)

The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”), www.nasd-law.com, announced today that it is investigating securities arbitration claims on behalf of Ameriprise Financial (“Ameriprise”) customers who purchased Inland Western Real Estate Investment Trust (“REIT”) n/k/a Retail Properties of America (“Retail Properties”) (NYSE:RPAI). K&T has received numerous inquiries from Ameriprise customers who have sustained losses in Retail Properties, and anticipates filing securities arbitration claims in the coming weeks on their behalf.

Ameriprise represents to its clients that it takes “time to understand your dreams and goals, recommend strategies and product solutions to help you make progress toward those dreams and goals and help you implement these solutions and monitor progress. We're committed to personal financial planning because we believe it's the best way to help you achieve your dreams.” With regard to Retail Properties, we believe that Ameriprise failed to live up to its promises, and as a result many of its customers sustained significant losses in this product.

Earlier this month, Retail Properties was converted from a non-traded REIT to a publicly traded company on the New York Sock Exchange. Just last June, the REIT was reportedly valued at $6.95 per share. Given this decline in value, some Retail Properties investors were advised by their brokers that they should remain invested in the REIT as the value should rebound following the IPO. However, at the IPO, Retail Properties was offered at $8, well below the expected $10 to $12. Moreover, that $8 offering price was the result of a reverse stock split. The real value was approximately $3.20.

Many Ameriprise customers purchased Retail Properties at the recommendation of their brokers who advised them that it was a low risk, safe investment, thereby misrepresenting the product. In some cases, Ameriprise brokers put a substantial portion of their client’s assets in the REIT, resulting in an unsuitable over-concentration in a single product. Consequently, Ameriprise customers who purchased Retail Properties may be able to recover some of their losses by filing an individual securities arbitration claim against Ameriprise, for sales practice violations which led to substantial losses in their investment portfolios.

Ameriprise customers who purchased Inland Western REIT n/k/a Retail Properties of America can contact K&T to explore their legal rights and options. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered significant losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.

If you are an Ameriprise customer who purchased Inland Western REIT n/k/a Retail Properties of America, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956 or visit us on the web at www.nasd-law.com

Contacts:

Klayman & Toskes, P.A.
Steven D. Toskes, Esquire, 888-997-9956
or
Jahan K. Manasseh, Esquire, 888-997-9956
www.nasd-law.com

Source: Klayman & Toskes, P.A.