An investigation on behalf of current long term investors in CBL & Associates Properties, Inc. (NYSE:CBL) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:CBL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/03/2016 -- Certain directors of CBL & Associates Properties, Inc are under investigation over potential wrongdoing. The investigation was announced for current long-term investors in shares of CBL & Associates Properties, Inc. concerning potential breaches of fiduciary duties by certain directors of CBL & Associates Properties, Inc.
Investors who are current long term investors in CBL & Associates Properties, Inc. (NYSE:CBL) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm for investors in NYSE:CBL stocks follows a lawsuit filed recently against CBL & Associates Properties, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:CBL stocks, concerns whether certain CBL & Associates Properties directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of Tennessee the plaintiff alleges that CBL & Associates Properties, Inc. made allegedly materially false and/or misleading statements and/or allegedly failed to disclose material facts about the Company, including that certain of its employees may have provided material non-public information to Senator Robert Corker, and that BL & Associates Properties, Inc. failed to disclose to its shareholders that certain of its financing arrangements may have been obtained through fraud and/or misrepresentation.
Shares of CBL & Associates Properties, Inc. (NYSE:CBL) declined from $21.09 per share in January 2015 to as low as $9.40 per share on February 11, 2016.
On May 24, 2016, it was reported that CBL & Associates Properties, Inc is under investigation by the Federal Bureau of Investigation and the Securities and Exchange Commission. Specifically, the investigation reportedly is focused on whether the CBL & Associates Properties, Inc falsified information on financial statements to banks when applying for financial arrangements. Law-enforcement officials are reported to have spoken with former CBL & Associates Properties, Inc employees who allege that the Company inflated its rental income and its properties' occupancy rates when reporting those figures to banks.
Shares of CBL & Associates Properties, Inc. (NYSE:CBL) declined on May 25, 2016, to $8.98 per share.
On May 27, 2016, NYSE:CBL shars closed at $9.53 per share.
Those who purchased shares of CBL & Associates Properties, Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com