Tenor madness at 98 Bottles
Robert Bush 11:18 p.m., May 25
Massachusetts nails LPL Financial
SD firm will pay $2 million to investors plus $500,000 fine
San Diego's LPL Financial has been hit with an order by the Massachusetts Security Division to pay more than $2 million to investors who had bought shares of non-traded real estate investment trusts (REITs). LPL will also pay a $500,000 administrative fine. Non-traded REITs are illiquid and many turn out to be bad investments, regulatory bodies throughout the U.S. have warned. The Massachusetts matter has been hanging fire since December.
Comments
Twister Feb. 10, 2013 @ 8:54 p.m.
What does John have to say about this, Don?
Don Bauder Feb. 10, 2013 @ 10:17 p.m.
Twister: If you are talking about the John I think you are talking about, I don't know. Haven't asked. Best, Don Bauder
Twister Feb. 11, 2013 @ 2:08 p.m.
Will you be asking Mr. W as part of your continuing investigation?
Don Bauder Feb. 11, 2013 @ 2:50 p.m.
Twister: Possible. Best, Don Bauder
Twister Feb. 10, 2013 @ 9:08 p.m.
What is happening in CA and SD? Is anyone considering a class-action suit here?
Don Bauder Feb. 10, 2013 @ 10:20 p.m.
Twister: I don't know. The Massachusetts case involves non-traded real estate investment trusts (REITs). A Chicago law firm has filed the first of ten arbitration claims against LPL for clients who allegedly lost $10.1 million over a very different kind of investment. Best, Don Bauder
Twister Feb. 11, 2013 @ 2:06 p.m.
LPL got me into REITs and I lost a lot of money. One of them has now "gone public," and I suspect the others will too. I suspect this is a way of washing their dirty laundry. I smell a racket that may go well beyond LPL.
Was the reported recovery the result of an AG prosecution, a class-action suit, other, or both?
Will we be hearing more from you on this subject regarding California and San Diego soon?
Don Bauder Feb. 11, 2013 @ 2:52 p.m.
Twister: I wrote one column devoted completely to non-traded REITs, and also post blog items on these bad investments. They are illiquid and pay fat commissions to brokers who peddle them. Best, Don Bauder
Twister Feb. 12, 2013 @ 7:31 p.m.
Roughly when did you write said column? Will I be able to find it in the Reader archives?
Twister Feb. 12, 2013 @ 7:27 p.m.
I'm looking forward to your next installment.
Twister Feb. 15, 2013 @ 12:22 p.m.
Relax. Did you see this program on BBC?
What Makes a Great Tenor?
Burwell Feb. 15, 2013 @ 12:56 p.m.
I hope the tenor doesn't wind up like Pavarotti, choking to death on a Big Mac.
Twister Feb. 22, 2013 @ 2:15 p.m.
Will you be commenting further or writing a follow-up piece on how this might apply to California, Don?
Twister March 2, 2013 @ 9:55 p.m.
Gosh, Don, I hope you're all right! Just busy?
Twister March 8, 2013 @ 10:42 p.m.
Knock, knock--are you there?
Twister March 10, 2013 @ 10:25 p.m.
Have you been told to lay off this subject?
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