CBL & Associates Properties, Inc. Securities Litigation
On or around 12/21/2016 (Notice of voluntarily dismissal)
Filing Date: May 27, 2016
According to the law firm press release, the Complaint alleges that CBL made materially false and/or misleading statements and/or failed to disclose material facts about the Company, including that (1) certain of its employees may have provided material non-public information to Senator Robert Corker; and (2) the Company failed to disclose to its shareholders that certain of its financing arrangements may have been obtained through fraud and/or misrepresentation.
According to news reports published on May 24, 2016, CBL is being investigated by both the FBI and SEC for inflating rental income and occupancy rates for its properties when providing those figures to banks in financing applications. On this news, CBL's stock declined nearly 9% on May 25, 2016.
This case was voluntarily dismissed on December 21, 2016.
Company & Securities Information
Defendant: CBL & Associates Properties, Inc.
Industry: Real Estate Operations
Headquarters: United States
Ticker Symbol: CBL
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Tommy French, et al. v. CBL & Associates Properties, Inc., et al.