The attorneys at Eccleston Law have launched an investigation of the Erickson Retirement Community STAMPS (subordinated tax advantaged mezzanine put securities) that were sold by B.C. Ziegler and Company.
According to the company's website, Erickson Retirement Communities engages in developing and managing retirement communities for middle-income people in the United States. Erickson Retirement Communities, LLC was formerly known as Senior Campus Living, LLC. The company was founded in 1983 and is based in Baltimore, Maryland. It has campuses in Colorado, Illinois, Kansas, Maryland, Massachusetts, Michigan, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, Texas, and Virginia.
The Erickson Retirement Community STAMPS are believed to be subordinated unsecured debt issued for the general corporate purposes of Erickson Retirement Community, including investments in its projects. The Erickson Retirement Community STAMPS are believed to have carried an initial interest rate of 11% and a ten-year term.
Although at this time it appears to be unrelated to the sale of the STAMPS, a $100 million lawsuit was filed in Federal court earlier this year accusing John C. Erickson, along with his family members and certain members of the board of directors, of using company assets for private use.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by securities fraud, unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.
If you are an investor that has suffered losses investing win Erickson Retirement Community STAMPS sold by B.C. Ziegler and Company, or any other investment professional, please contact one of our attorneys at 312-332-0000 to discuss your recovery options.
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