A National Securities Arbitration & Investment Fraud Law Firm
Our attorneys are investigating customer losses in Adcare Health Systems Inc., an investment offered and sold by National Securities Corporation Inc. (NSC) and Northland Securities to its retail clients.
If you have suffered losses in Adcare Health Systems Inc., please contact our lawyers for a free and confidential consultation concerning your legal rights and the possibility of recovery.
At Silver Law Group, we know from experience that not every investment recommended and solicited by a stockbroker is suitable and appropriate for the customer. We have seen, particularly in the initial public offering (IPO) space, that investors are often falsely promised high returns and low risk, when in truth the investment is speculative and subject to the loss of principal. Your financial advisor and the securities firm who sells the investment have a legal duty to fully explain the nature of the investment, its inherent risks and the possibility of loss.
Brokers and financial advisors may push risky initial public offerings on unsuspecting investors based upon strong financial incentives, including large commission payouts. Investors in such offerings must realize that these investments are inherently risky and should be considered very carefully before making a decision to invest. Representations made by stockbrokers that such investments are “safe” and “guaranteed” are typically false and are a red flag of possible fraud.
National Securities Corporation Inc. Role in the Investment:In 2015, National Securities Corporation underwrote Adcare Health Systems Inc.’s preferred stock offering. At the close of the offering, National Securities Corporation & Northland Securities raised 15 million ($15,000,000). Adcare Health Systems Inc. was listed on the NYSE under the stock symbol “ADK.PRA” with an initial offering price of 25.50 per share. As of November 13, 2017, Adcare Health Systems Inc stock is worth $0.97 per share.
Adcare Health Systems Inc. Company Profile:Founded in 1991, AdCare Health Systems, Inc. is a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term healthcare through facility lease and sub-lease transactions. The company currently owns, leases or manages for third parties, 30 facilities.
Mr. Tenwick, age 79, is the Company’s founder and has served as a director of the Company since its founding in August 1991. Mr. Tenwick also served as Chairman of the Board from the Company’s founding until March 2015 and President from June 1, 2014 to November 1, 2014.
Silver Law Group represents investment fraud victims in cases to recover their investment losses. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll-free at (800) 975-4345.