BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased CBL & Associates Properties, Inc. (“CBL & Associates” or the “Company”) (NYSE: CBL) securities between November 8, 2017 and March 26, 2019, inclusive (the “Class Period”). CBL & Associates investors have until July 16, 2019 to file a lead plaintiff motion.
Investors suffering losses on their CBL & Associates investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On March 26, 2019, the Company disclosed that it had settled for $90 million a class action suit alleging that CBL & Associates overcharged its tenants for electricity.
On this news, the Company’s share price fell $0.47, nearly 25%, to close at $1.44 per share on March 27, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company was the target of a class action suit that could result in tens of millions or even hundreds of millions of dollars in liability; and (2) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you purchased shares of CBL & Associates, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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