Moody National REIT II Suspends Offering and Distribution Payments – Goodman & Nekvasil, P.A. May Recover Losses
Moody National Reit II is a non-traded Real Estate Investment Trust (REIT) that invests in hotel and securities. According to the DIWire, “Moody National REIT II’s board temporarily suspended the company’s public offering and distribution payments, effective immediately. The distribution reinvestment plan and share repurchase program will be suspended, effective April 6, 2020.”
According to a letter to shareholders: “The Moody National REIT II board approved the foregoing actions based on the rapidly deteriorating demand across the hotel sector, which is expected to continue to negatively impact bookings and occupancy levels at the company’s properties, stemming from the social distancing, travel restrictions and other policies implemented to combat the COVID-19 pandemic.”
Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments and has recovered more than $180 million dollars on behalf of victimized investors. We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives. All our cases are handled on a purely contingency fee basis.
You may have the right to recover your losses from the brokerage firm that sold Moody National REIT II and other high-risk investments to you. We strongly recommend that you act quickly, however, because statutes of limitation can be short in securities cases.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of these investments in any way.
If you incurred losses on your investment in Moody National REIT II and/or other high-risk investments and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.