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The Law Firm of Levi & Korsinsky Announces Investigation Into David Lerner & Associates, Inc. and Its Apple REIT Ten

/ Source: GlobeNewswire

NEW YORK, June 7, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP is investigating the investment firm of David Lerner & Associates, Inc. ("DLA") for possible fraud, breaches of fiduciary duty and other claims related to the sale of its Apple REIT Ten. In recent years DLA has marketed Apple REITs heavily to investors. A particular REIT offering, Apple REIT Ten, has become the focus of particular scrutiny.

A recent complaint filed by The Financial Industry Regulatory Authority (FINRA) alleges that DLA (a) solicited investors for Apple REIT Ten without conducting a reasonable investigation to determine its suitability for investors and (b) misled investors regarding Apple REIT Ten distributions. The complaint also alleges that DLA specifically targeted elderly and unsophisticated customers for this investment.

If you own Apple REIT Ten securities and wish to obtain additional information, please contact Joseph Levi, Esq. either via email at ek@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit .

Levi & Korsinsky has expertise in protecting shareholders' rights and prosecuting investor securities litigation. The attorneys at Levi & Korsinsky have extensive experience in litigating actions on behalf of shareholders victimized by financial fraud and represent investors throughout the nation. Levi & Korsinsky has been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities fraud cases. For more information, please feel free to contact any of the attorneys listed below.

Attorney advertising. Please be aware that prior results never guarantee similar future outcomes.

CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. 30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com