Securities attorneys Jason Kane, Joe Peiffer and Dan Carr, along with their California co-counsel of the Schneider Wallace law firm, have taken legal action on behalf of investors in TNP 6700 Santa Monica (“TNP Kodak”), a real estate investment program sponsored by Thompson National Properties.
In the case they filed on behalf of TNP Kodak investors on June 21, 2013, attorneys Rosca and Peiffer allege that the TNP Kodak offering documents included a number of misrepresentations and omissions that were material to the TNP Kodak investors’ decision to invest.
TNP Kodak’s main asset was a property leased by Eastman Kodak, the technology company. Kodak filed for bankruptcy and subsequently vacated the property, which was sold at a loss, causing investors to lose the majority of their invested principal, according to documents filed in the case.
“We will continue to take action on behalf of investors in TNP-sponsored programs who invested in reliance upon misrepresentations and omissions in offering documents,” said attorneys Rosca and Peiffer. “Promoters of investment programs have a duty to ensure that adequate disclosures are made to investors as to such programs,” said attorneys Rosca and Peiffer.
Investors in TNP-sponsored programs may contact attorneys Rosca or Peiffer for a free evaluation of their case, at (216) 589-9280.