Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Sept. 16, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Arbor Reality Trust, Inc. ("Arbor" or the "Company") (NYSE:ABR) investors of a class action representing investors that bought securities between May 7, 2021 and July 11, 2024, inclusive (the "Class Period"). Arbor investors have until September 30, 2024 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the complaint, during the relevant period, the defendants misled investors about ABR's financial and operational health. This included inaccurate information about its balance sheet, loan portfolio, and net interest income. Shareholders only discovered the truth over time, starting with reports on March 14, 2023, and again on December 5, 2023, that revealed ABR's real estate portfolio issues and allegations of concealed toxic assets. Additionally, on July 12, 2024, Bloomberg reported that federal prosecutors and the FBI were investigating ABR's lending practices and loan book value. Following these revelations, ABR's stock price fell significantly, dropping from $15.53 per share to $12.89 per share, resulting in considerable losses for investors.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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