NEW YORK, June 02, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Tennessee on behalf of all persons or entities who acquired CBL & Associates Properties, Inc. (“CBL” or “Company”) (NYSE:CBL) securities between August 8, 2013 and May 24, 2016 (the “Class Period”), inclusive.
Shareholders who have purchased CBL common stock within the class period and incurred losses, are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased shares of CBL and suffered a loss, you may request that the Court appoint you lead plaintiff of the proposed class no later than July 26, 2016.
On May 24, 2016, the Wall Street Journal reported that the Federal Bureau of Investigation (FBI) and the U.S. Securities and Exchange Commission (SEC) are probing into whether CBL falsified information on financial statements to banks when applying for financing. According to the Wall Street Journal, the officials are focusing on whether CBL inflated rental income and occupancy rates for its properties when providing those figures to banks. Federal investigators are separately questioning the relationship between the company and U.S. Senator Bob Corker of Tennessee, who has friendly ties to CBL's senior executives and has made millions of dollars in profits trading the company's stock in recent years.
On this news, CBL's stock declined 8.4% to close at $9.40 per share on May 25, 2016.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. You may also follow the firm and learn about newly filed cases on Twitter and Facebook.
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