NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Piedmont Office Realty Trust, Inc. (NYSE:PDM) resulting from allegations that Piedmont Office may have issued materially misleading business information to the investing public.
On May 3, 2017, Piedmont Office disclosed that it had not properly accounted for goodwill in connection with real estate assets sold or held for sale in prior periods. As a result of these errors, Piedmont Office is estimating a reduction in earnings for the years ended December 31, 2016, 2015, and 2014 of approximately $8.2 million, $41.7 million, and $2.4 million, respectively. On this news, shares of Piedmont Office fell $0.79 per share or over 3% to close at $21.18 per share on May 3, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Piedmont Office investors. If you purchased shares of Piedmont Office on or before May 3, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1120.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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