NEW YORK, Dec. 28, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Consolidated-Tomoka Land Co. ("CTO" or the "Company") (NYSE: CTO). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether CTO and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On December 17, 2015, Wintergreen Advisers, LLC announced that it had sent a letter to CTO, telling the Company that, in Wintergreen's opinion, "CTO's recent public filings have not met the standards set forth in [the] federal securities laws and furthermore, we believe that CTO's management, led by John Albright, is actively trying to deceive shareholders with filings, investor presentations and disclosures that obfuscate, confuse and hide what is really going on at CTO." Specifically, Wintergreen raised concerns about CTO's disclosures with regard to the Company's use and calculation of leverage and CTO's securities and derivatives portfolios.
On this news, CTO stock fell $4.03, or more than 7%, to close at $51.20 on December 17, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz LLP firstname.lastname@example.org
SOURCE Pomerantz LLP