Wednesday, August 22, 2018

Grimes v Trustmont Financial Group- $1 million non-traded REIT, Annuity Award

In August 2018, a FINRA arbitration panel in Tampa, FL ordered Trustmont Financial Group to pay $1,041,000 in statutory damages pursuant to FL Section 517, punitive damages, costs and fees. You can read the award here. Dr. McCann testified on liability and damages over Trustmont's sale of a non-traded REIT (Griffin Capital Essential Asset) and two variable annuity switches.

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.

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