CBL & Associates Properties, Inc.
Robbins Arroyo LLP Is Investigating the Officers and Directors of CBL & Associates Properties, Inc. (CBL) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of CBL & Associates Properties, Inc. (NYSE: CBL) violated applicable laws by causing the company to engage in accounting fraud. CBL & Associates is a public real estate investment trust.
CBL & Associates Is Investigated for Accounting Fraud
On May 24, 2016, the Wall Street Journal reported that the Federal Bureau of Investigation and the U.S. Securities and Exchange Commission are probing whether CBL & Associates falsified information on financial statements to banks when applying for financing. According to the Wall Street Journal, the officials are focusing on whether CBL inflated rental income and occupancy rates for its properties when providing those figures to banks. Federal investigators are separately questioning the relationship between the company and U.S. Senator Bob Corker of Tennessee, who has friendly ties to CBL’s senior executives and has made millions of dollars in profits trading the company’s stock in recent years. On this news, CBL’s stock declined 8.4% to close at $9.40 per share on May 25, 2016.
CBL & Associates Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.