Tecnara Tools Business David Lerner and Associates – Investor Disputes

David Lerner and Associates – Investor Disputes

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The brokerage firm david lerner and associates has been the subject of multiple investor disputes, and the company itself is in dire financial straits. It has reported a negative net worth in recent filings, meaning that it owes more money than it has. This is a clear sign of insolvency, and investors should consider avoiding this company as much as possible.

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The firm’s brokers have been accused of selling proprietary investments that do not meet regulatory requirements. Most notably, david lerner and associates sold Apple REIT 10 (SOAEX) to customers who were unsuitable for those investments. Similarly, david lerner and associates’ brokers recommended Spirit of America Energy Investment Fund, Energy 11, and Energy Resources 12 to customers who were unsuitable for those highly concentrated non-traded oil and gas investments.

These investments were sold to individuals who would likely lose their entire investment in the event of a drop in the prices of these products. In addition, david lerner and associates charged hefty annual account fees to its clients which further eroded their returns on these investments. This link

As a result, the firm and some of its brokers have been subject to multimillion-dollar settlements with securities regulators. Investors who suffered losses in SOAEX and these other investments are encouraged to contact the securities fraud attorneys at KlaymanToskes. We are currently investigating claims against David Lerner Associates and its representatives in a number of pending investor disputes, including FINRA arbitration case no. 22-00019.

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