BOSTON, May 27, 2016 /PRNewswire/ -- Block & Leviton LLP (blockesq.com) announces that it has filed a class action lawsuit against CBL & Associates Properties, Inc. ("CBL" or the "Company") (NYSE: CBL) and certain of its officers for violations of the federal securities laws.
The case is brought on behalf of investors who purchased or otherwise acquired CBL securities between August 8, 2013 and May 24, 2016 (the "Class Period"), and 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.
If you wish to serve as a lead plaintiff, you must move the Court no later than July 26, 2016. As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. To learn more about your options or if you have any questions about the litigation, please contact Bradley Vettraino at (617) 398-5600 or email him at firstname.lastname@example.org.
Confidentiality to whistleblowers or others with relevant information is assured.
Block & Leviton LLP is a securities litigation firm representing investors nationwide. The firm represents a number of the nation's largest institutional investors, has offices in Boston and the Bay Area and has recovered more than a billion dollars for its clients.
The case, filed May 27, 2016, is pending in the United States District Court for the Eastern District of Tennessee and is captioned French v. CBL & Associates Properties, Inc., et al., Ca. No. 1:16-cv-00165. The judge is yet to be assigned. The court is located at 220 W Depot St. #200, Greeneville, Tennessee.
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Contact: BLOCK & LEVITON LLP
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Boston MA 02110
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SOURCE Block & Leviton LLP