Contact Hagens Berman to Join Class Action Against ABR
SAN FRANCISCO, CA / ACCESSWIRE / August 7, 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 Now:ABR@hbsslaw.com
844-916-0895
Securities Class Action Against Arbor Realty Trust, Inc. (ABR):
Arbor Realty Trust is under mounting pressure from investors and regulators as a surge in delinquent loans casts a shadow over the company's financial health. The multifamily lender reported disappointing second-quarter earnings on August 2, with a 10% jump in delinquencies to $1 billion highlighting the deteriorating quality of its loan portfolio.
The earnings miss comes as Arbor is facing a class-action lawsuit alleging the company misled investors about its financial performance. Filed in late July in the Eastern District of New York, the suit claims Arbor painted an overly optimistic picture of its business, particularly the quality of its loan book.
Investor concerns about Arbor's financial health emerged in Mar. 2023 when NINGI Research questioned the value of the company's real estate holdings, particularly its mobile home portfolio. The report triggered a decline in Arbor's stock price as investors digested the implications for the company's overall financial performance.
The pressure on Arbor intensified in Dec. 2023, when activist short seller Viceroy Research released a scathing report alleging widespread issues with the company's loan book. The report further eroded investor confidence, sending the stock price lower.
However, the most significant blow to Arbor came on July 12, 2024, when news of a federal investigation into the company's lending practices broke. The revelation sent the stock price into a tailspin, wiping out billions in shareholder value.
"We are looking into allegations that Arbor misled investors about the true nature of its business risks," 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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