It Misled Investors About Illiquid Real Estate Investment Trusts. After being hit with a complaint claiming it misled investors about illiquid real estate investment trusts, or REITs, Syosset, New York-based David Lerner Associates says it’s being made a scapegoat by the Financial Industry Regulatory Authority (Finra). In a prepared … [Read more...] about David Lerner Associates Says it’s a Scapegoat