Shareholders Foundation, Inc.

Behringer Harvard REIT I, Inc Investor Alert: Lawsuit over Alleged Securities Laws Violations Filed

A lawsuit was filed for certain investors in Behringer Harvard REIT I, Inc over alleged securities laws violations. Deadline: November 19, 2012. Investors in the Behringer Harvard REIT I, Inc should contact the Shareholders Foundation.

 
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San Diego, CA -- (SBWIRE) -- 09/25/2012 -- An investor in Behringer Harvard REIT I, Inc filed a lawsuit in the U.S. District Court for the Northern District of Texas against Behringer Harvard REIT I, Inc over alleged securities laws violations.

Investors were shareholders of record of Behringer Harvard REIT I, Inc common stock as of April 1, 2011 and were entitled to vote on the Schedule 14 and or those who were entitled to tender their Behringer Harvard REIT I, Inc shares pursuant to the Tender Offer Statements on Schedule TO under Section 14(d)(1) or 13(e)(1) of the Exchange Act, filed with the SEC by CMG Legal Income Funds on August 23, 2011 and February 23, 2012, you have certain options and there are strict and short deadlines running. Deadline: November 19, 2012. Those investors in Behringer Harvard REIT I, Inc should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

Behringer Harvard REIT I, Inc is a real estate investment trust that owns 57 properties located in 21 states and the District of Columbia. Its initial public offering occurred between February 19, 2003 and February 19, 2005. Behringer Harvard REIT I Inc. also commenced a second public offering on February 11, 2005 and a third public offering on October 20, 2006.

The plaintiff alleges that t Behringer Harvard REIT I, Inc, the parent company of its advisor Behringer Harvard Holdings, LLC, its Board of Directors and certain of its executive officers violated federal securities laws and breached their fiduciary duties. The plaintiff alleges that the defendants allegedly made certain false and/or misleading statements and/or allegedly failed to disclose certain material information.

The plaintiff claims that since investing in Behringer Harvard REIT I, Inc the value of the investment has plummet.

The plaintiff says that on December 28, 2011, Defendants filed a Form with the SEC estimating the per share value of the Company’s common stock to be $4.64 per share, a 53.6% decline for those shareholders that purchased BH REIT stock at $10.00 per share. But the plaintiff says that it is doubtful that Behringer Harvard REIT I, Inc stock is even worth the $4.64 claimed by Defendants as the Company’s shares have traded in the secondary market for as little as $2.40 per share.

The plaintiff says that Behringer Harvard REIT I, Inc has seen two of its properties foreclosed upon this year and Defendants have intimated in the Company’s most recent quarterly report filed with the SEC that more foreclosures are on the horizon.

The plaintiff alleges that Behringer Harvard REIT I, Inc has historically operated essentially what one might characterize as a Ponzi scheme. Although Behringer Harvard REIT I, Inc has consistently paid distributions to its shareholders, so the plaintiff, it has never covered paying them out of real operating cash flow and instead Defendants allegedly have covered dividends out of offering proceeds.

What’s worst, so the plaintiff, although Behringer Harvard REIT I, Inc is illiquid, Defendants allegedly have made it even harder for the Company’s shareholders to exit their investment by both allegedly misrepresenting its true value and amending the Company’s charter to make it more difficult for third parties making a tender offer for B Behringer Harvard REIT I, Inc shares.

Those who were shareholders of record of Behringer Harvard REIT I, Inc common stock as of April 1, 2011 and were entitled to vote on the Schedule 14 and or those who were entitled to tender their Behringer Harvard REIT I, Inc shares pursuant to the Tender Offer Statements on Schedule TO under Section 14(d)(1) or 13(e)(1) of the Exchange Act, filed with the SEC by CMG Legal Income Funds on August 23, 2011 and February 23, 2012, you have certain options and there are strict and short deadlines running. Deadline: November 19, 2012. Those investors in Behringer Harvard REIT I, Inc should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com