SAN DIEGO, May 25, 2016 /PRNewswire/ -- Shareholder
Rights Law Firm Johnson & Weaver, LLP is investigating
potential violations of the federal securities laws by CBL &
Associates Properties, Inc. (NYSE: CBL) and certain of its
officers. CBL is a public real estate investment trust. It engages
in acquisition, development and management of properties.
On May 24, 2016, The Wall
Street Journal reported that CBL is under investigation by
federal law-enforcement officials for alleged accounting fraud.
According to the article, the FBI and the SEC are focusing their
examination on whether CBL falsified information on financial
statements when applying to banks for financing arrangements. The
same article further states, "Law-enforcement officials have talked
to former CBL employees who allege the company inflated its rental
income and its properties' occupancy rates when reporting those
figures to banks, the people said".
Furthermore, The Wall Street Journal stated that the FBI
and SEC officials have separately inquired about the relationship
between the Company and Tennessee U.S. Sen. Bob Corker, who reportedly made millions of
dollars in profits trading CBL's stock in recent years.
On the news, CBL stock closed down over 8% on May 25, 2016.
If you have information that could assist in this
investigation, including whistleblowers, past employees and others,
or if you are a CBL shareholder and are interested in learning more
about the investigation or your legal rights and remedies, please
contact Jim Baker
(jimb@johnsonandweaver.com) by email or phone at 619-814-4471.
If emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP