Contact Hagens Berman to Join Class Action Against ABR
SAN FRANCISCO, CA / ACCESSWIRE / August 2, 2024 / Hagens Berman urges Arbor Realty Trust, Inc. (NYSE:ABR) investors who suffered substantial losses to submit your losses now.
Class Period: May 7, 2021 - July 11, 2024
Lead Plaintiff Deadline: Sept. 30, 2024
Visit:www.hbsslaw.com/investor-fraud/ABR
Contact the Firm Attorney Now:ABR@hbsslaw.com
844-916-0895
Securities Class Action Against Arbor Realty Trust, Inc. (ABR):
Arbor Realty Trust (ABR) is under fire from investors who allege the mortgage real estate investment trust misled them about the health of its loan portfolio. A federal class-action lawsuit filed in the Eastern District of New York accuses ABR of providing false and misleading information about its financial performance between May 7, 2021 and July 11, 2024.
The complaint contends that ABR painted a rosy picture of its business, particularly the quality of its loan book, in public filings and earnings calls. However, this rosy view began to unravel on Mar. 14, 2023 when NINGI Research published a report questioning the value of ABR's real estate holdings, specifically its mobile home portfolio. ABR's stock price dipped following the report.
The pressure on ABR intensified on Dec. 5, 2023 when activist short seller Viceroy Research released a scathing report alleging widespread issues with the company's loan book. The report sent ABR's stock price lower.
However, it was the dramatic plunge on July 12, 2024 that ignited investor fury. Following a Bloomberg report that federal prosecutors were investigating ABR's lending practices, the company's stock price plummeted, wiping out billions in shareholder value.
Investors allege that ABR's misrepresentations artificially inflated its stock price, causing significant financial losses to those who purchased the company's shares during the class period. The lawsuit seeks damages for the investors.
"We are investigating whether Arbor may have hid operational and financial risks from investors," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Arbor and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »
If you'd like more information and answers to frequently asked questions about the Arbor case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Arbor should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ABR@hbsslaw.com.
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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
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