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CBL.US

CBL & Associates Properties (CBL) $17.5M Securities Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
E.D. Tennessee
Court
1:19-CV-00181
Case number
29 Jul 2014
Class period Start
26 Mar 2019
Class period End
14 Aug 2023
Claim deadline
CBL & Associates Properties (CBL) settles $17.5 million to end a lawsuit by investors who claim they were harmed when the company was allegedly slow to disclose a $90 million settlement with tenants over their electric bills.

Eligibility:
All persons and entities that purchased or otherwise acquired CBL Securities during the period between July 29, 2014, and March 26, 2019, may be entitled to a payout.

“CBL Securities” includes:
  1. CBL common stock (ISIN No. US1248301004; CUSIP 124830100) (“Common Shares”), and/or
  2. CBL’s 7.375% Series D Cumulative Redeemable Preferred Stock (ISIN No. US1248306052; CUSIP 124830605) (“Series D Preferred Shares”) and/or
  3. CBL’s 6.625% Series E Cumulative Redeemable Preferred Stock (ISIN No. US1248308033; CUSIP 124830803) (“Series E Preferred Shares”, and together with the Series D Preferred Shares, the “Preferred Shares”) and/or
  4. senior unsecured notes issued by CBL in November 2013, that bear interest at 5.25% and mature on December 1, 2023 (ISIN No. US12505JAA16; CUSIP 12505JAA1) (“2023 Senior Notes”), and/or
  5. senior unsecured notes issued by CBL in October 2014 that bear interest at 4.60% and mature on October 15, 2024 (ISIN No. US12505JAB98; CUSIP 12505JAB9) (“2024 Senior Notes”), and/or
  6. senior unsecured notes issued by CBL Operating in December 2016 and August 2017 that bear interest at 5.95% and mature on December 15, 2026 (ISIN No. US12505JAD54; CUSIP 12505JAD5) (“2026 Senior Notes” and, collectively, the “Senior Notes”).
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Filing date
17 May 2019
Plaintiffs
Jay B. Scolnick, Mark Shaner, Charles D. Hoffman, HoffInvestCo, Lydia Hoffman
Attorneys
Abraham, Fruchter & Twersky LLP (New York, NY), Bronstein, Gewirtz & Grossman, LLC (New York, NY), Holifield Janich & Ferrera, PLLC (Knoxville, TN), Kaskela Law LLC (Newtown Square, PA), Pomerantz LLP (New York, NY), The Hamilton Firm (Chattanooga, TN)
Defendants
Charles B. Lebovitz, Stephen D. Lebovitz, Farzana Khaleel, A. Larry Chapman, Augustus N. Stephas, Don Sewell
Judge
Hon. J Ronnie Greer
Administrator
EPIQ
Court hearing date
21 August 2023
Exclusion deadline
31 July 2023
Objection deadline
31 July 2023
+$17,500,000
Total Settlement Amount
Created by Stan Vick, Scout

CBL & Associates Properties Inc

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's owned and managed portfolio is...

    Ticker
    CBL.US
    ISIN
    US1248308785
    CIK
    910612
    Sector
    Real Estate
    Industry
    REIT - Retail
    Country
    USA
    Address
    CBL Center, 2030 Hamilton Place Blvd., Chattanooga, TN, United States, 37421-6000