If you have sustained financial losses due to a Sim card swapping hack or other security breaches we strongly encourage you to contact Levin Law, P.A. for a free case evaluation.
David Lerner Associates, Inc., a securities broker-dealer located in Syosset, New York, is being investigated by Levin Law for its possible recommendations and sales of Spirit of America Energy Funds and Energy 11 and Energy Resources 12 limited partnerships. The energy sector may be too risky for some investors, particularly if a disproportionately large amount of an investor’s assets is placed into oil, gas, and energy investments.
Financial advisors at David Lerner Associates may have recommended investment in non-public limited partnerships Energy 11, Energy Resources 12, and mutual fund Spirit of America Energy (SOAEX). Particularly for unsophisticated investors, such investments may be unsuitably risky, particularly when sold in high concentrations.
In 2017, David Lerner Associates entered into a consent order with the New Jersey Department of Securities, agreeing to pay $650, 000 after it was alleged that David Lerner violated securities laws and failure to supervise sales of non-traded real estate investment trusts (REITs) in 2017.
Additionally, according to the New York Times, in 2012 David Lerner Associates was ordered by the Financial Industry Regulatory Authority (FINRA) to pay “about $12 million to customers that bought into a $2 billion real estate investment trust” and $2.3 million for “charging unfair prices on municipal bonds and collateralized mortgage obligations.”
If you have suffered losses from investing in Energy 11, Energy Resources 12, or Spirit of America Energy (SOAEX) mutual fund with David Lerner Associates, you might be entitled to obtain financial compensation through a FINRA arbitration claim.
If you invested in the energy sector or with David Lerner Associates and experienced financial loss, please contact Brian Levin for a free case evaluation at (305) 402-9050, firstname.lastname@example.org, or contact us online. Levin Law accepts most cases on a contingency-fee basis, meaning that you would not be obligated to pay Levin Law’s attorney fees unless we recover money on your behalf.
Levin Law is a premier national securities and class action law firm. Brian Levin, Levin Law’s managing attorney, has obtained settlements and recoveries in excess of $100,000,000 in assets through arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.