Brokerages to offer restitution over REIT sales -Mass. regulator
BOSTON, Sept 4
BOSTON, Sept 4 (Reuters) - Five independent brokerages will offer to pay investors an additional $10.8 million after a review of their procedures for the sale of real estate investment trusts, Massachusetts' top securities regulator said on Wednesday.
The round of restitution will bring to $21.7 million the total amount of money returned to investors over the sales, said the office of Massachusetts Secretary of State William Galvin in a statement. He had questioned the suitability of the securities for some investors like seniors.
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- New York police officer critically wounded in hatchet attack |
- Doctor with Ebola in NY hospital, nurse declared virus-free
- Exclusive: Charred tanks in Ukraine point to Russian involvement
- Putin accuses United States of damaging world order