LaeRoc Income Funds
McCabe Rabin, P.A. is investigating claims that brokerage firms made misrepresentations concerning the nature and safety of the LaeRoc 2002 Income Fund, LaeRoc 2004-2005 Income Fund, LaeRoc 2005-2006 Income Fund, LaeRoc Edge Fund and LaeRoc Income Fund 2007 (collectively LaeRoc Funds). The LaeRoc Funds are real estate private placements containing income producing properties in the western United States. The LaeRoc Funds were marketed and sold by numerous brokerage firms including Linsco Private Ledger (LPL), Commonwealth Financial Group, La Salle Securities, Empire Financial Group, Inc. and others.
It is believed that some brokers and brokerage firms marketed the LaeRoc Funds as safe, conservative investments when in reality, they were risky and illiquid. When the real estate market declined drastically in 2008 and 2009, the LaeRoc Funds suffered massive declines in value.
It is also believed that the commissions earned on the LaeRoc Funds were 3 to 4 times higher than on a traditional mutual fund. This may have motivated some brokers and brokerage firms to forgo their legal obligations to perform due diligence on the financial strength of the investment and to consider the suitability of the investment for a particular client based on that client’s age, investment objectives and financial resources.
If you suffered losses as a result of an investment in any of the LaeRoc Funds, contact McCabe Rabin for an evaluation of your potential claim at 877-915-4040 or Click Here to fill out our contact form.