The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Washington Prime Group, Inc. (NYSE: WPG) who purchased shares between November 5, 2020 and March 4, 2021. The action, which was filed in the United States District Court for the Southern District of Ohio, alleges that the Company violated federal securities laws.
In particular, the Washington Prime Group, Inc. lawsuit alleges that (1) WPG’s financial condition was deteriorating substantially; (2) as a result, there was substantial uncertainty about the Company’s ability to meet its capital structure obligations as they became due; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until July 23, 2021 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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