SEC Probes Inland American REIT Over Fees, Payouts
Law360, New York (May 11, 2012, 5:16 PM EDT) -- The U.S. Securities and Exchange Commission is investigating whether the $11 billion Inland American Real Estate Trust violated laws regarding management fees, investor payouts and transactions, according to a Thursday filing, as regulators seek to tighten their grip on nontraded REITs.
Inland announced the probe in a regulatory filing made available Thursday, saying the SEC was interested in whether any violations had been made in connection with the company's discussions about becoming a self-administered REIT.
"Inland American has been fully cooperating with the SEC and has not been accused of any wrongdoing,” Thomas McGuinness, president of Inland American Business Manager &...
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