We are currently examining the sales practices of Palm Springs, California financial advisor Leonard Allen Goldberg (CRD#223972) in connection with his recommendation of the LaeRoc Funds. Investors are encouraged to contact our attorneys to discuss their recovery options.
According to the fund's website, the LaeRoc Funds is a real estate investment firm managing over $650 million in assets in the last 23 years. The Company focuses on income producing properties in the western US with a concentration in southern California. The company has purportedly created 14 different real estate funds.
Following the overall slump in the real estate market, some of the LaeRoc Funds may have declined significantly in value. For example, a notice of dissolution that was recently issued to investors in the LaeRoc 2002 Income Fund, L.P. Furthermore, Investment News recently reported that the Laeroc 2005-2006 Income Fund is seeking to raise up to $15 million to help reduce the $49 million of debt the fund has outstanding. In June, LaeRoc Partners, Inc. is reported to have issued a "cash call" notification to investors who purchased the LaeRoc 2005-2006 Income Fund. Cash calls in a real estate fund in some cases can indicate that the fund could be in trouble. According to Investment News, the fund's lenders are considering foreclosure if new cash cannot be raised through the cash call.
Some of the real estate funds that it has created include the following:
- LaeRoc 2002 Income Fund
- LaeRoc 2004-2005 Income Fund
- LaeRoc 2005-2006 Income Fund
- LaeRoc Edge Fund
- LaeRoc Income Fund 007
Investors who have suffered losses investing in any of the LaeRoc Funds upon the recommendation of Leonard Allen Goldberg may be able to recover their losses through securities arbitration.
If you have suffered losses investing with Leonard Allen Goldberg or any of the LaeRoc Funds, including the LaeRoc 2002 Income Fund, L.P. or the LaeRoc 2005-2006 Income Fund, please contact Eccleston Law Offices to discuss your recovery options at (312) 332-0000.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by 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.
FinancialCounsel.com, hosted by James J. Eccleston, is a companion website to this blog, along with EcclestonLaw.com. It contains complementary material of general interest to investors and financial services professionals. Investors will find material on securities arbitration to recover investment losses; industry and financial markets intelligence; and strategies for estate planning. Professionals have access to material on broker/adviser registration, regulation, compliance and disciplinary proceedings; industry and financial markets intelligence; strategies for estate planning; and broker/adviser employment litigation and injunctions, including defamation and non-competition/solicitation issues. 
