SAN DIEGO, May 25, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by CBL & Associates Properties, Inc. (NYSE: CBL) and certain of its officers. CBL is a public real estate investment trust. It engages in acquisition, development and management of properties.
On May 24, 2016, The Wall Street Journal reported that CBL is under investigation by federal law-enforcement officials for alleged accounting fraud. According to the article, the FBI and the SEC are focusing their examination on whether CBL falsified information on financial statements when applying to banks for financing arrangements. The same article further states, "Law-enforcement officials have talked to former CBL employees who allege the company inflated its rental income and its properties' occupancy rates when reporting those figures to banks, the people said".
Furthermore, The Wall Street Journal stated that the FBI and SEC officials have separately inquired about the relationship between the Company and Tennessee U.S. Sen. Bob Corker, who reportedly made millions of dollars in profits trading CBL's stock in recent years.
On the news, CBL stock closed down over 8% on May 25, 2016.
If you have information that could assist in this investigation, including whistleblowers, past employees and others, or if you are a CBL shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP