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The amount we charge is based on how much we recover for you. If distributions are declared and paid, the amount of the distributions paid may decrease or distributions may be eliminated at any time. Hospitality Investors Trust Commences Bankruptcy Case (504) 523-2434 These loans have an interest rate of 15% per year. 7:18 pm REITs like this are only suitable for savvy and wealthy investors, because these complex investment products are often risky and highly illiquid, meaning investors may be stuck and not able to access their money. Hospitality Investors Trust Inc. (HIT REIT) Files Chapter 11 Bankruptcy, HIT REIT Hospitality Investors Trust Losses, update April 8, 2021, Damian BairdSuspended from the Securities Industry, Peakstone NYSE Listing Disappoints Shareholders. Adam Corwin: Complaint Against MML Advisor Alleges Fraud, James Warring: EagleStone Wealth Advisor Faces $4.5mm Complaint, Chuck Timmerman: $400K Complaint Against US Bancorp Advisor, Adam Brown: WestPark Advisor Faces $351K Investor Complaint. Rosenheim - Wikipedia document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We are a nationwide litigation law firm that represents individuals and entities who have been the victims of negligence, fraud or the misconduct of powerful interests. According to news reports, on May 13, the REIT's executive officers and employees received $2.5 million in retention bonuses. Or you may email our attorneys directly, shareholder and attorney Michael Bixby may contacted at mbixby@levinlaw.com. Investors were advised that they would receive $6 per share as contingent payment in lieu of their shares which would be canceled. Hospitality Investors Trust Inc (HIT REIT), formerly known as American Realty Capital Hospitality Trust (ARCHT), is a registered non-traded real estate investment trust. If you invested in HIT REIT, Contact Peiffer Wolf for a FREE CONSULTATION by calling 585-310-5140 of by filling out a Contact Form on this website. Recommendations should be appropriate in light of the investors age, risk tolerance, net worth, and investment experience. Real estate investment trusts (REITs) arecomplex and inherently risky products. In May 2021, The Hospitality Investors Trust filed for Chapter 11 bankruptcy protection, which will almost certainly result in investors losing all or most of their principal. Scott is admitted to practice in New York and Florida and the firms FINRA arbitration attorneys represents investors nationwide. Hospitality investors must sell their shares on the secondary market to know the value of their shares. There are two types of REITs: publicly traded and non-traded. Gibbs Law Groupsfinancial fraudandsecurities lawyershave more than two decades of experience prosecuting fraud. We can help you recover damages for these losses by pursuing your claim, on a contingent fee .