Kirby McInerney LLP Announces Class Action Lawsuit Against David Lerner Associates, Apple REIT Nine, Inc. and Apple REIT Ten, Inc by EON


More Info
									Kirby McInerney LLP Announces Class Action
Lawsuit AgainstDavid Lerner Associates,Apple
REIT Nine, Inc. and Apple REIT Ten, Inc.
June 28, 2011 02:03 PM Eastern Daylight Time 

NEW YORK--(EON: Enhanced Online News)--Notice is hereby given that a class action lawsuit was filed in the
United States District Court for the Eastern District of New York on behalf of a proposed class consisting of all
persons or entities who purchased Apple REIT Nine and/or Apple REIT Ten securities between June 16, 2008 and
the present, inclusive (the “Class Period”).

The Complaint charges the Apple REITs, David Lerner Associates (“DLA”) and certain of the Apple REITs’ and
DLA’s executive officers with violations of federal securities laws. DLA was the exclusive selling agent for the Apple

The Complaint alleges, among other things, that: (1) REIT Nine's and REIT Ten's registration statements and
prospectuses failed to disclose material information concerning the value of shares of prior Apple REITs, which
pursued nearly identical investment strategies and whose share value had declined significantly, and (2) DLA solicited
purchases of REIT Nine and REIT Ten by means of false and misleading statements.

If you are a member of the class described above, you may, no later than August 16, 2011, request that the court
appoint you lead plaintiff of the class. Although your ability to share in any recovery is not affected by the decision
whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the
overall recovery for class members, including decisions concerning settlement.

If you wish to discuss this action, or have any questions concerning this notice or your rights, please contact us, toll
free, at (888) 529-4787 or by email at

Kirby McInerney LLP has specialized in complex litigation, including securities class actions, for several decades.
The firm has repeatedly demonstrated its expertise in this field, and has been recognized by various courts that have
appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of
shareholders in securities litigation have resulted in recoveries totaling hundreds of millions of dollars, and the firm's
achievements and quality of service have been chronicled in numerous published decisions. More information about
the firm, class actions in general, or about the role of the lead plaintiffs in a securities class action can be obtained
through Kirby McInerney LLP's website at

Kirby McInerney LLP
Francisco Loya
Sarah G. Lopez, Esq.

To top