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Non-traded REIT Loss Lawyers
Investors of Lightstone Value Plus REITs May Want to Explore Their Legal Options. Our Non-traded REIT Loss Lawyers Can Help You Assess The Cause Of Your Losses
In New York federal court, a group of investors have filed a class action lawsuit against Lightstone Value Plus REITs I, II, and III. The non-traded real estate investment trusts are sponsored and advised by The Lightstone Group. The claimants contend that thousands of Lightstone REIT investors may have been misled into approving charter amendments that got in the way of the liquidation of their investments.
The class action plaintiffs are pursuing damages for breach of contract, breach of fiduciary duty, and other relief. They allege that because of proxy statements that were misleading and incomplete, officers and directors involved were given more powers. Meanwhile, investors were prevented from realizing the true value of their investments.