The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of CBL & Associates Properties, Inc (NYSE: CBL) who purchased shares between July 29, 2014 and March 26, 2019. The action, which was filed in the United States District Court for the Eastern District of Tennessee, alleges that the Company violated federal securities laws.
In particular, the CBL & Associates lawsuit alleges that the Company was the target of a class action suit that could result in tens of millions or even hundreds of millions of dollars in liability. The Complaint further alleges that Defendants completely ignored their disclosure obligation, motivated by a desire to avoid bad publicity surrounding their dishonest nature and their dishonest conduct. When the truth was revealed, CBL shares materially declined in price, injuring the class.
Shareholders have until July 16, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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