Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Eastern District of Tennessee on behalf of shareholders of CBL & Associates Properties, Inc. (NYSE: CBL) between August 9, 2011 and May 24, 2016.
The complaint alleges that defendants violated the Securities Exchange Act of 1934 by virtue of their failure to disclose during the Class Period that certain of the Company’s employees may have provided material non-public information to Senator Robert Corker, and that certain of its financing arrangements were obtained through fraud and/or misrepresentation. On May 24, 2016, after the market close, the Wall Street Journal reported that the Federal Bureau of Investigation and the U.S. Securities and Exchange Commission are investigating whether CBL officials falsified information on financial statements to banks when applying for financial arrangements. According to the Wall Street Journal, the Company allegedly inflated its rental income and occupancy rates when reporting these figures.
If you suffered a loss in CBL you have until July 26, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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