July 16, 2013
Securities attorneys Jason Kane and Joe Peiffer have filed legal claims on behalf of investors in Thompson National Properties – sponsored TNP 2008 Participating Notes program, seeking compensation for their investments.
Thompson National Properties (“TNP”), a California-based company, has sponsored a number of real estate investment programs since 2008. Several of those programs, such as TNP 2008 Participating Notes, TNP 12% Notes, and TNP Strategic Retail Trust, have defaulted on distribution or interest payments to investors over the past twelve months.
In the case they filed on behalf of TNP 2008 Participating Note investors, attorneys Rosca and Peiffer alleged that program was promoted to investors through material misrepresentations and omissions. The TNP 2008 Note program’s promoters were aware of some of the misrepresentations and omissions and failed to investigate others, despite glaring red flags, according to documents filed in the case.
This case follows an earlier case filed by attorneys Rosca and Peiffer on behalf of investors in another TNP-sponsored program, TNP 6700 Santa Monica Boulevard, also known as “TNP Kodak.” TNP Kodak investors have already incurred losses when the main real estate asset owned by TNP 6700 Santa Monica Boulevard was sold at a loss.
Investors in TNP-sponsored programs, and in particular in TNP 2008 Participating Notes, TNP 12% Notes, TNP Strategic Retail Trust, and TNP 6700 Santa Monica Boulevard (“TNP Kodak“) are encouraged to contact attorneys Jason Kane or Joe Peiffer for a free evaluation of their options to seek compensation for their investment, at (216) 589-9280.