The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Colony Capital, Inc. (“Colony” or “the Company”) (NYSE: CLNY) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Colony announced its financial results for the third quarter of 2019 on November 8, 2019, during pre-market hours. The Company reported a GAAP net loss of $555 million. According to the Company, this loss “notably included reductions of goodwill, impairments of real estate and provision for loan losses totaling $540.3 million . . . of which $387.0 million was attributable to the reduction of goodwill primarily as a result of the pending sale of the Company’s industrial investment management business and related real estate portfolio, and the decrease in management fees from Colony Credit Real Estate, Inc… resulting from impairments related to its portfolio bifurcation.” Based on this news, shares of Colony fell by nearly 9% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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