NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Colony NorthStar, Inc. (NYSE:CLNS) (“Colony NorthStar” or the “Company”) and certain of its officers and directors, related to alleged violations of federal securities laws. If you purchased shares of Colony NorthStar between February 28, 2017 and March 1, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for additional information.
Colony NorthStar is a global real estate and investment management firm. The Company invests in healthcare, industrial, and hospitality sectors, and offers equity and debt management services.
The lawsuit alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and financial results, specifically: (1) Colony NorthStar’s Healthcare and Investment Management segments were performing worse than reported; (2) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On March 1, 2018, Colony NorthStar reported its financial and operating results for the quarter and year ended December 31, 2017, announcing a goodwill impairment of $375 million, attributable to the Company’s Healthcare and Investment Management segments.
On this news, Colony NorthStar’s share price fell $1.78, over 22%, to close at $6.00 on March 1, 2018.
What You Can Do
If you purchased Flex shares between February 28, 2017 and March 1, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at firstname.lastname@example.org. Investors have until June 5, 2018, to move for lead plaintiff.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.