Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Blackstone Mortgage Trust, Inc. (NYSE: BXMT) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Blackstone stock. Blackstone investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On December 6, 2023, Muddy Waters, known for its short-selling and market research, released a report titled "Here Comes the Cliff!" targeting Blackstone. The report claimed that Blackstone's loan book had seriously deteriorated, a situation obscured by the use of interest rate swaps and manipulated risk ratings or loss provisions. The report highlighted several critical concerns expected to surface in the upcoming year:
- Blackstone would significantly reduce its dividend.
- A substantial number of Blackstone's borrowers would likely be unable to refinance or repay their loans.
- Blackstone could face a liquidity crisis.
- The losses on Blackstone's net book value could range between $2.5 billion and $4.5 billion, potentially erasing its market capitalization.
Following the release of this report, Blackstone's stock experienced a significant drop, decreasing by $1.81 per share, or 8.05%, and closing at $20.68 per share on the same day.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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