Investors who have held Apple REITs in pension and profit sharing accounts custodied by David Lerner & Associates accounts should contact us to discuss claims against the firm, Apple REITs and others for overvaluing their investments.
Every year, sponsors of pension and profit sharing accounts rely upon custodians like David Lerner & Associates and REITs to provide a value of the investment held in those accounts. They must do so in a reasonable manner and cannot simply rely upon purchase price. That value then is reported on Form 5500.
The Department of Labor and the IRS take these matters very seriously. Investors — and plan sponsors — should contact us to further discuss this matter.