An investigation for investors in NYSE:PDM shares over potential securities laws violations by Piedmont Office Realty Trust, Inc. was announced and NYSE:PDM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/24/2017 -- Piedmont Office Realty Trust, Inc is under investigation over potential securities laws violations. The investigation was announced on behalf of investors who purchased NYSE:PDM shares in connection with certain financial statements made by Piedmont Office Realty Trust, Inc.
Investors who purchased shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Piedmont Office Realty Trust, Inc. (NYSE:PDM) concerning whether a series of statements by Piedmont Office Realty Trust regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Piedmont Office Realty Trust, Inc. reported that its annual Total Revenue declined from $584.77 million in 2015 to $555.72 million in 2016 and that its Net Income increased from $4.67 million in 2015 to $9.32 million in 2016.
Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) grew from $16.78 per share in September 2015 to $22.85 per share in February 2017.
On May 3, 2017, Piedmont Office Realty Trust, Inc reported its first quarter 2017 results and revealed that it had not properly accounted for goodwill regarding real estate assets sold or held for sale in prior periods. Due to these errors, Piedmont Office Realty Trust, Inc estimates a reduction in earnings for the years ended December 31, 2016, 2015 and 2014 of about $8.2 million, $41.7 million and $2.4 million, respectively.
Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) declined to $20.93 per share on May 4, 2017.
On May 23, 2017, NYSE:PDM shares closed at $21.68 per share.
Those who purchased shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) 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