NEW YORK, July 03, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston reports that it was the first to file a class action lawsuit against CBL & Associates Properties, Inc. (“CBL” or the “Company”) (NYSE: CBL) in the United States District Court for the Eastern District of Tennessee on behalf of those who purchased or acquired the securities of CBL. A class period has been proposed that would cover purchases of CBL securities between April 29, 2016 and March 26, 2019, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose in its SEC filings 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 alleges that CBL was the subject of a class action lawsuit that could potentially result in tens or hundreds of millions in liability for the Company. The Company completely ignored its disclosure obligations pertaining to the lawsuit to minimize the bad publicity from its dishonest actions. Based on these facts, the Company’s public statements were false and materially misleading throughout the Class Period. When the market learned the truth about CBL, investors suffered damages.
Investors who purchased or otherwise acquired the securities of CBL during the Class Period should contact Gainey McKenna & Egleston prior to the July 16, 2019 lead plaintiff motion deadline.
A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
