April 02, 2013
Brokerage David Lerner Associates Inc. and Apple REIT Inc. on Sunday won a bid to toss a $6 billion class action accusing them of misleading investors and inflating shares.
July 16, 2012
David Lerner Associates Inc. and Apple REIT Inc. filed separate motions in New York federal court Friday seeking to dismiss a $6 billion class action claiming they misled investors and inflated shares, arguing that the plaintiffs cannot show they have suffered any loss.
June 20, 2011
David Lerner Associates Inc. was hit with a putative class action in New Jersey on Monday by Apple REIT shareholders who claim the investment firm misled elderly and unsophisticated investors in a $6 billion Ponzi scheme.