Robbins Arroyo LLP Is Investigating the Officers & Directors of CBL & Associates Properties, Inc. (CBL) on Behalf of Sharehol...
02 June 2016 - 6:14AM
Business Wire
Shareholder rights law firm Robbins Arroyo LLP is investigating
whether certain officers and directors of CBL & Associates
Properties, Inc. (NYSE: CBL) violated applicable laws by causing
the company to engage in accounting fraud. CBL & Associates is
a public real estate investment trust.
View this press release on the law firm's Shareholder Rights
Blog:
www.robbinsarroyo.com/shareholders-rights-blog/cbl-associates-properties-inc-may-2016
CBL & Associates Is Investigated for Accounting
Fraud
On May 24, 2016, the Wall Street Journal reported that the
Federal Bureau of Investigation and the U.S. Securities and
Exchange Commission are probing whether CBL & Associates
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.
CBL & Associates Shareholders Have Legal Options
Concerned shareholders who would like more information about
their rights and potential remedies can contact attorney Darnell R.
Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than
$1 billion of value for themselves and the companies in which they
have invested.
Attorney Advertising. Past results do not guarantee a similar
outcome.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160601006939/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003DDonahue@robbinsarroyo.comwww.robbinsarroyo.com
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