NEW YORK, Dec. 15, 2023 (GLOBE NEWSWIRE) --
WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of Blackstone Mortgage Trust, Inc. (NYSE: BXMT) resulting from allegations that Blackstone Mortgage may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Blackstone Mortgage securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=20943 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On December 6, 2023, Muddy Waters released a report entitled, “Here Comes the Cliff!” shorting Blackstone Mortgage. In this report, Muddy Waters stated, “[i]nterest rate swaps and manipulated risk ratings / loss provisions have obscured serious deterioration in BXMT’s loan book.” In addition, the report listed several problems that would be evident in the new year: (1) Blackstone Mortgage will significantly cut its dividend; (2) a significant number of borrowers will unlikely be able to refinance and repay Blackstone Mortgage; (3) Blackstone Mortgage is at risk of a liquidity crisis; and (4) Blackstone Mortgage’s losses on its net book value could potentially reach anywhere between $2.5 billion to $4.5 billion, resulting in its market cap being wiped out.
On this news, Blackstone Mortgage’s stock price fell $1.81 per share, or 8.05%, to close at $20.68 per share on December 6, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
