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ABR.US
id: 1083
Arbor Realty Trust (ABR) Bad Loans Case
E.D. New York
Court1:24-cv-05347
Case number05/07/2021
Class period Start07/11/2024
Class period End09/30/2024
Lead Plaintiff motion deadline- $ABR stockholder filed a claim against Arbor Realty for misleding about its financial health, including its loan book and net interest income.
- On December 5, 2023, following the news, $ABR fell 3.8%, losing $98M+ of shareholder value.
- Arbor Realty investors can join this case to be notified about potential recovery.
Case Details:
On March 14, 2023, NINGI Research accused ABR of hiding a toxic portfolio of mobile homes and using fake holding companies for over a decade.
On December 5, 2023, Viceroy reported that ABR's Jacksonville, FL properties are among the worst in a troubled industry, with a distressed loan book and overstated collateral.
Then, on July 12, 2024, Bloomberg reported that federal prosecutors and the FBI were investigating ABR's lending practices and loan performance claims.
On this news, $ABR fell by 16% on the same day.
Considering all the information, investors suspect that Arbor misled them about its financial health, including its loan book and net interest income.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07/12/2024
Filing date
07/31/2024
Lead Plaintiff Deadline
09/30/2024