LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 26, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased CBL & Associates Properties, Inc. (“CBL” or the “Company”) (NYSE: CBL) securities between August 8, 2013 and May 24, 2016, inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, CBL made materially false and/or misleading statements and/or failed to disclose material facts about the Company, including, inter alia, that (1) certain of its employees may have provided material non-public information to Senator Robert Corker; and (2) the Company failed to disclose to its shareholders that certain of its financing arrangements were obtained through fraud and/or misrepresentation.
On May 24, 2016, after the market close, the Wall Street Journal (“WSJ”) reported that the FBI and SEC are investigating whether CBL officials falsified info on financial statements to banks when applying for financial arrangements. According to the WSJ the Company allegedly inflated its rental income and occupancy rates when reporting these figures.
On this news, CBL shares fell $1.26 per share, or nearly 13%, during intraday trading on May 25, 2016.
If you purchased CBL shares, you may move the Court no later than July 26, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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