Padilla et al v Royal Alliance - $1.1 million non-traded REIT, Annuity Award
In October 2016, a FINRA arbitration panel in San Francisco, CA ordered Royal Alliance Associates to pay $1,105,000 in compensatory. You can read the award here. Dr. McCann testified on liability and damages over Royal Alliance's sale of non-traded REITs (Inland American REIT, Inland Western REIT and Dividend Capital Diversified Realty Trust) and variable annuities to the Claimants for their retirement portfolios.
Dr. McCann's "Fiduciary Duties and Non-traded REITs" can be downloaded here and SLCG's blog posts on non-traded REITs can be found here.