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Thompson National Properties-Sponsored TNP Strategic Retail

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Thompson National Properties-sponsored TNP Strategic Retail Trust (“TNP SRT”) has filed a Notice today with the Securities and Exchange Commission, stating that it is unable to timely file form 10-Q.

The federal securities laws require companies such as TNP SRT to disclose information to their shareholders on an ongoing basis.  Form 10-Q is a quarterly report that is required to include unaudited financial statements and to provide a continuing view of the company’s financial position during the year.  The 10-Q report must be filed for each of the first three fiscal quarters of an issuer’s fiscal year.

TNP SRT indicated the reason it was unable to timely file its current 10-Q report because it has dismissed its previous accounting firm a month ago, and the new accounting firm it hired was unable to complete and timely file Form 10-Q without unreasonable effort and expense.

In its Notice, TNP SRT did not indicate when the 10-Q report would be filed.

TNP SRT has dismissed its former accounting firm in mid-April, 2013, for that firm’s alleged failure to report two important events to the Securities and Exchange Commission.  One of the items that, according to TNP SRT’s board, should have been reported was that the accounting firm had apparently determined it would no longer be able to rely upon the representations of Tony Thompson, the Company’s CEO and Chairman of the Board.

Securities attorneys Alan Rosca, Joe Peiffer, and Lance McCardle have been investigating several TNP-sponsored investments, including TNP Strategic Retail Trust, TNP 12% Notes, TNP “Kodak,” and TNP 2008 Participating Notes (“TNP”).  Attorneys Rosca, Peiffer, and McCardle are preparing to take action on behalf of TNP investors, against securities broker-dealer firms that may have failed in their duties to adequately vet the TNP products prior to recommending them to their customers.   TNP investors are encouraged to contact attorneys Alan Rosca, Joe Peiffer, or Lance McCardle for a free consultation at 888-998-0520.

Disclaimer: Our clients will not be responsible for the payment of litigation-related costs if they do not recover, whenever permitted by the applicable jurisdiction's rules. Some jurisdictions mandate that the client always pays the case expenses. This page may be deemed to be attorney advertising. We handle financial fraud cases in most states. However, our firm's lawyers are not admitted to practice law in every state. Attorney Joe Peiffer is licensed to practice law in Louisiana. Attorney Alan Rosca is licensed to practice law in Ohio. In those jurisdictions in which our firm's lawyers are not admitted to practice, we will associate co-counsel from the relevant jurisdiction to assist with the matter, at no additional cost to our clients. In cases where we associate with local co-counsel, we will typically act as primary counsel. Occasionally, it is possible that the co-counsel will take the leading role. Whenever that is the case, we will obtain the client's advance, written permission. Each case is different and prior successes are not indicative of future results. Although our lawyers have experience handling various types of cases, none has be certified as an expert or specialist in any area of the law by any accrediting or licensing authority or by any bar association. Please visit and go to Legal Disclaimer for important disclaimers.

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