{"id":386051,"date":"2020-11-20T09:33:11","date_gmt":"2020-11-20T14:33:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386051"},"modified":"2020-11-20T09:33:11","modified_gmt":"2020-11-20T14:33:11","slug":"david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\/","title":{"rendered":"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 <\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nNational securities fraud law firm, KlaymanToskes (\u201cKT\u201d), announces its investigation into David Lerner Associates for the unsuitable concentration in proprietary products invested in <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fklaymantoskes.com%2Fcoronavirus%2Fsecurities-concentration%2Fenergy-sector%2F&amp;esheet=52332845&amp;newsitemid=20201120005173&amp;lan=en-US&amp;anchor=non-traded+Oil+%26amp%3B+Gas+Investments&amp;index=1&amp;md5=5662046b90fdead755ede19241ceeeba\">non-traded Oil &amp; Gas Investments<\/a> offered exclusively to its clients. The <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fklaymantoskes.com%2Fsecurities-fraud-litigation%2Ffinra-arbitration%2Fsecurities-concentration%2F&amp;esheet=52332845&amp;newsitemid=20201120005173&amp;lan=en-US&amp;anchor=concentrated+investments&amp;index=2&amp;md5=73a74a021f4ba45270c03f02e86cd1e6\">concentrated investments<\/a> include the Energy 11 LP, Energy Resource 12 LP, and Spirit of America Fund (NASDAQ:SOAEX). In addition to the precipitous loss in value, most of the interest payments received by investors are now considered return of capital.\n<\/p>\n<p>\nAccording to securities attorney, Lawrence L. Klayman, \u201cDavid Lerner Associates recommended proprietary products that were unsuitable for most conservative or retired investors.\u201d According to the Energy 11 LP and Energy Resource 12 LP Prospectus and the Partnership Agreement with the Managing Dealer, the Managing Dealer receives a total of 6% in selling commissions and Dealer Manager Incentive Fees of an amount up to 4% of the gross proceeds of the common units sold based on the Partnership\u2019s performance. Klayman adds, \u201cBased on SEC Filings there was an incentive to recommend these proprietary products at the expense of investors.\u201d\n<\/p>\n<p>\nThe investigation has been launched to determine whether, David Lerner Associates <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fklaymantoskes.com%2Fsecurities-fraud-litigation%2Ffinra-arbitration%2Ffailure-to-supervise%2F&amp;esheet=52332845&amp;newsitemid=20201120005173&amp;lan=en-US&amp;anchor=failed+to+supervise&amp;index=3&amp;md5=3e88599d50662fb5202eadd5baba37bd\">failed to supervise<\/a> the sales and marketing of its proprietary products to risk averse investors, such as retirees or other conservative investors, that were seeking income and capital preservation. Furthermore, the investigation focuses on whether David Lerner Associates and its financial advisors <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fklaymantoskes.com%2Fsecurities-fraud-litigation%2Ffinra-arbitration%2Fmisrepresentation-omission-material-facts%2F&amp;esheet=52332845&amp;newsitemid=20201120005173&amp;lan=en-US&amp;anchor=misrepresented+material+facts&amp;index=4&amp;md5=3336a6dc45cc84164c37a5dad03dde38\">misrepresented material facts<\/a> relating to the risks associated with illiquid, concentrated investments in the Oil &amp; Energy sector and the associated higher fees and costs.\n<\/p>\n<p>\nThe sole purpose of this release is to investigate investment recommendations provided by David Lerner Associates. Investors are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fklaymantoskes.com%2Fdownload-reports%2Fkey-factors-that-affect-investment-recovery-outcomes%2F&amp;esheet=52332845&amp;newsitemid=20201120005173&amp;lan=en-US&amp;anchor=Special+Investor+Report&amp;index=5&amp;md5=be55eec2f28f59acf8d148d3e4876d4a\">Special Investor Report<\/a>.\n<\/p>\n<p><b>About KlaymanToskes<\/b><\/p>\n<p>\nKT is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $200 million for investors in arbitration. KT has office locations in California, Florida, New York and Puerto Rico.\n<\/p>\n<p>\nDestination: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fklaymantoskes.com%2Fdavid-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration&amp;esheet=52332845&amp;newsitemid=20201120005173&amp;lan=en-US&amp;anchor=https%3A%2F%2Fklaymantoskes.com%2Fdavid-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration&amp;index=6&amp;md5=3f8dc634111d1dc64288bcaa24a52e4b\">https:\/\/klaymantoskes.com\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration<\/a><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201120005173r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201120005173\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201120005173\/en\/<\/a><\/span><\/p>\n<p>\nKlaymanToskes<br \/>\n<br \/>Lawrence L. Klayman, Esq., (561) 542-5131<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:lklayman@klaymantoskes.com\">lklayman@klaymantoskes.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.klaymantoskes.com&amp;esheet=52332845&amp;newsitemid=20201120005173&amp;lan=en-US&amp;anchor=www.klaymantoskes.com&amp;index=7&amp;md5=263ef0ba3f7c0ed28e0f684ecdc74d5e\">www.klaymantoskes.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201120005173\/en\/840737\/3\/KT_graphic_BLUE.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 NEW YORK&#8211;(BUSINESS WIRE)&#8211; National securities fraud law firm, KlaymanToskes (\u201cKT\u201d), announces its investigation into David Lerner Associates for the unsuitable concentration in proprietary products invested in non-traded Oil &amp; Gas Investments offered exclusively to its clients. The concentrated investments include the Energy 11 LP, Energy Resource 12 LP, and Spirit of America Fund (NASDAQ:SOAEX). In addition to the precipitous loss in value, most of the interest payments received by investors are now considered return of capital. According to securities attorney, Lawrence L. Klayman, \u201cDavid Lerner Associates recommended &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386051","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 NEW YORK&#8211;(BUSINESS WIRE)&#8211; National securities fraud law firm, KlaymanToskes (\u201cKT\u201d), announces its investigation into David Lerner Associates for the unsuitable concentration in proprietary products invested in non-traded Oil &amp; Gas Investments offered exclusively to its clients. The concentrated investments include the Energy 11 LP, Energy Resource 12 LP, and Spirit of America Fund (NASDAQ:SOAEX). In addition to the precipitous loss in value, most of the interest payments received by investors are now considered return of capital. According to securities attorney, Lawrence L. Klayman, \u201cDavid Lerner Associates recommended &hellip; Continue reading &quot;DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-20T14:33:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201120005173r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000\",\"datePublished\":\"2020-11-20T14:33:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\\\/\"},\"wordCount\":446,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20201120005173r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\\\/\",\"name\":\"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\/","og_locale":"en_US","og_type":"article","og_title":"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 - Market Newsdesk","og_description":"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000 NEW YORK&#8211;(BUSINESS WIRE)&#8211; National securities fraud law firm, KlaymanToskes (\u201cKT\u201d), announces its investigation into David Lerner Associates for the unsuitable concentration in proprietary products invested in non-traded Oil &amp; Gas Investments offered exclusively to its clients. The concentrated investments include the Energy 11 LP, Energy Resource 12 LP, and Spirit of America Fund (NASDAQ:SOAEX). In addition to the precipitous loss in value, most of the interest payments received by investors are now considered return of capital. According to securities attorney, Lawrence L. Klayman, \u201cDavid Lerner Associates recommended &hellip; Continue reading \"DAVID LERNER INVESTOR ALERT: KlaymanToskes Investigates Unsuitable Concentration in Proprietary Products Invested in Energy 11 LP, Energy Resource 12 LP and Spirit of America Fund Which Resulted in Losses in Excess of $250,000\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/david-lerner-investor-alert-klaymantoskes-investigates-unsuitable-concentration-in-proprietary-products-invested-in-energy-11-lp-energy-resource-12-lp-and-spirit-of-america-fund-which-resulted-in-lo\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-20T14:33:11+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201120005173r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 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