Following Hartman REIT’s financial troubles and suspension of investor distributions in March 2023, numerous individual lawsuits and an SEC investigation have emerged, alleging mismanagement, fiduciary breaches, and misleading investors
| Complete Date | Case | Citation | Court | Short Summary |
|---|---|---|---|---|
| March 2023 | Hartman REIT announces suspension of distributions and raises “substantial doubt” about its future. Stock price plummets. | N/A | N/A | Financial instability raises alarm bells for investors. |
| Ongoing | Individual investor lawsuits | Multiple, specific cases pending | Various courts | Investors allege misleading financial information, fiduciary breaches by Allen Hartman, and resulting losses. |
| Ongoing | SEC investigation | N/A | N/A | Regulatory watchdog examines potential securities violations by Hartman REIT. |
Details and Latest Developments:
- Investor Lawsuits: Multiple lawsuits by individual investors have been filed, claiming they were misled about the company’s financial health and suffered significant losses due to alleged mismanagement and fiduciary breaches by Allen Hartman. These lawsuits are in various stages and could result in substantial damages awards for investors if successful.
- SEC Investigation: The Securities and Exchange Commission is actively investigating Hartman REIT for potential violations of securities laws. While no charges have been filed yet, the investigation could lead to legal action in the future.
- Uncertain Future: Hartman REIT’s future remains uncertain, potentially impacting ongoing legal proceedings and investor recoveries.
Important Note: This information is not a substitute for legal advice. Investors who have lost money in Hartman REIT should consult with an experienced securities attorney to discuss their legal options and potential claims.
