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Response to FINRA Release: 5-31-11
David Lerner Associates, Inc. (“DLA”) is proud of its 35 year history of serving its customers and is proud of its 19 year history as principal underwriter of the SEC registered Apple REIT programs. DLA vehemently denies FINRA’s allegations.
In connection with DLA’s decision to serve as the underwriter of Apple REIT Ten, Inc., among other things, the firm conducted thorough due diligence of Apple REIT Ten’s offering documents and audited financial statements.
DLA will vigorously defend these claims. It looks forward to the opportunity to set the record straight and expects to be completely vindicated. |
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