According to a press release there is currently an ongoing investigation concerning whether or not Grubb & Ellis, Inc. (NYSE: GBE) and some of its officers and directors violated their fiduciary duties to GBE shareholders and/or possibly violated securities laws in the process.

According to the press release attorneys are currently investigating whether Grubb & Ellis Company (NYSE: GBE) and certain officers and directors made false and misleading statements and/or did not disclose adverse facts regarding the company's financial services division. Such facts include that the financial services division was not performing as well as was stated, that disruption in capital markets would affect the company's ability to complete certain asset sales resulting in higher losses and that financial services earnings were in a decline. If any of the above are true, then GBE officers would not have had a reasonable basis for giving positive statements about the company and its prospects to investors.

In May 2007, GBE agreed to a reverse merger with NNN Realty Advisors, Inc. (NNN), forming a publicly-traded real estate services company. The newly formed company had a total market capitalization of approximately $725 million. Triple Net Properties, a subsidiary of NNN, is a large sponsor of Tenant-in-Common (TIC) programs for 1031 exchanges. Those exchanges are offered through a network of broker-dealer relationships.

GBE is a commercial real estate services firm that operates in the United States and internationally. Services offered by GBE include integrated real estate solutions including brokering transactions, property management and investment advisory services. If GBE officers and/or directors gave false or misleading statements about the company's prospects, then they would have violated their fiduciary duty to shareholders.