SAN DIEGO & CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of CBL & Associates Properties, Inc. (NYSE: CBL) violated applicable laws by causing the company to engage in accounting fraud. CBL & Associates is a public real estate investment trust.
View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/cbl-associates-properties-inc-may-2016
CBL & Associates Is Investigated for Accounting Fraud
On May 24, 2016, the Wall Street Journal reported that the Federal Bureau of Investigation and the U.S. Securities and Exchange Commission are probing whether CBL & Associates falsified information on financial statements to banks when applying for financing. According to the Wall Street Journal, the officials are focusing on whether CBL inflated rental income and occupancy rates for its properties when providing those figures to banks. Federal investigators are separately questioning the relationship between the company and U.S. Senator Bob Corker of Tennessee, who has friendly ties to CBL's senior executives and has made millions of dollars in profits trading the company's stock in recent years. On this news, CBL's stock declined 8.4% to close at $9.40 per share on May 25, 2016.
CBL & Associates Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.