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 Colony Capital, Inc. (NYSE: CLNY) resulting from allegations that Colony may have issued materially misleading business information to the investing public.
On November 8, 2019, before the market opened, Colony announced its financial results for the third quarter of 2019. Among other results, Colony reported a GAAP net loss of $555 million, or $1.15 per share, which “notably included reductions of goodwill, impairments of real estate and provision for loan losses totaling $540.3 million . . . of which $387.0 million was attributable to the reduction of goodwill primarily as a result of the pending sale of the Company’s industrial investment management business and related real estate portfolio, and the decrease in management fees from Colony Credit Real Estate, Inc… resulting from impairments related to its portfolio bifurcation.”
On this news, Colony’s stock price fell $0.48 per share, or approximately 8.76%, to close at $5.00 per share on November 8, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Colony investors. If you purchased shares of Colony please visit the firm’s website at http://www.rosenlegal.com/cases-register-1728.html to join the class action. You may also contact Phillip Kim 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. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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