Shareholders Foundation, Inc.

Strategic Realty Trust Investor Alert: Lawsuit over Alleged Securities Laws Violations Filed

A lawsuit was filed for certain investors in Strategic Realty Trust, Inc. over alleged violations of securities laws and investors in the Strategic Realty Trust, Inc. should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
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San Diego, CA -- (SBWIRE) -- 10/29/2013 -- An investor in the Strategic Realty Trust, Inc, formerly known as the TNP Strategic Retail Trust, Inc, filed a lawsuit in U.S. District Court of Northern California over alleged violations of Federal Securities laws by the Strategic Realty Trust, Inc and others.

If you purchased shares of the Strategic Realty Trust, Inc, formerly known as the TNP Strategic Retail Trust, Inc between September 23, 2010 and February 7, 2013, and / or pursuant and / or traceable to the initial public offering, you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that that Strategic Realty Trust, Inc, its former affiliates Thompson National Properties, LLC, TNP Strategic Retail Advisor, LLC and TNP Securities, LLC, and certain of Strategic Realty Trust, Inc’s current or former officers and directors violated Sections 11, 12(a)(2) and/or 15 of the Securities Act of 1933.

Among other things, the plaintiff claims that the offering materials provided to investors during the initial public offering (“IPO”) allegedly contained material misrepresentations and omissions about the financial health of the Strategic Realty Trust, Inc and its affiliates and about the performance of earlier real estate programs sponsored by the Strategic Realty Trust, Inc’s affiliates.

The plaintiff says that the defendants sold between September 23, 2010 and February 7, 2013 approximately 9 million shares of the the Strategic Realty Trust’s common stock to investors at $10.00 per share.

Then on January 16, 2013, the Strategic Realty Trust, Inc revealed that it had defaulted on a $29 million loan that its Anthony W. Thompson personally and unconditionally had guaranteed, but failed to honor. The Strategic Realty Trust, Inc also disclosed that it had defaulted on its $45 million revolving credit facility.

Then on August 28, 2013, the Strategic Realty Trust, Inc announced that a board-level "Special Committee" had been formed a year earlier "for the protection of shareholders" after Thompson National Properties, LLC, an entity that Anthony W. Thompson wholly owned and managed, was found to be paying fees to itself that had not been earned.

The plaintiff says that Thompson National Properties, LLC's financial crisis and de facto insolvency resulted in the Strategic Realty Trust, Inc defaulting on millions of dollars of loan obligations that were supposedly guaranteed by Anthony W. Thompson but not honored, formation of the Special Committee in August 2012 and termination of Anthony W. Thompson and TNP Advisors, which Anthony W. Thompson and Thompson National Properties, LLC wholly-owned.

The plaintiff seeks to recover damages on behalf of investors who purchased shares of the Strategic Realty Trust, Inc, formerly known as the TNP Strategic Retail Trust, Inc between September 23, 2010 and February 7, 2013, and / or pursuant and / or traceable to the initial public offering.

Those who purchased shares of the Strategic Realty Trust, Inc, formerly known as the TNP Strategic Retail Trust, Inc between September 23, 2010 and February 7, 2013, and / or pursuant and / or traceable to the initial public offering have certain options and 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