PR Newswire
NEW YORK, Sept. 13, 2024
NEW YORK, Sept. 13, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Arbor Realty Trust, Inc. ("ABR" or the "Company") (NYSE: ABR) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of ABR investors who were adversely affected by alleged securities fraud between May 7, 2021 and July 11, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/arbor-lawsuit-submission-form?prid=102126&wire=4
ABR investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: According to the complaint, during the class period, defendants provided investors with false and/or materially misleading information concerning ABR's operational and financial health, including its balance sheet loan book and net interest income. Over the course of several months, shareholders learned the truth when first, on March 14, 2023, and then again, on December 5, 2023, investment firms published research reports concerning ABR's real estate portfolio and accusing the Company of hiding toxic assets. On July 12, 2024, Bloomberg reported that federal prosecutors and the Federal Bureau of Investigation were probing ABR over its lending practices and the value of its loan book. In connection with these disclosures, the price of ABR's stock has declined substantially causing damages to investors, including most recently the decline from $15.53 per share to $12.89 per share following the Bloomberg report.
WHAT'S NEXT? If you suffered a loss in ABR during the relevant time frame, you have until September 30, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
