Get Cash Back and $0 Commissions + The Power of TradeStation
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Arbor Realty Trust, Inc. - ABR
Globe Newswire 18-Jan-2024 5:25 PM
NEW YORK, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Arbor Realty Trust, Inc. ("Arbor" or the "Company") (NYSE:ABR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Arbor and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 17, 2023, hedge fund Viceroy released a research report entitled "Arbor Realty Trust – Slumlord Millionaires." In its report, Viceroy concluded that "Arbor's high-risk multifamily bridge loans, which comprise substantially all of its asset book, are going bad fast… The end is near." Then, on December 5, 2023, after purportedly receiving information from "whistleblowers" regarding distressed Arbor deals and underlying assets, Viceroy released a second research report on the company entitled, "Arbor – Jacksonville Case Study." The second report highlighted three multifamily properties in the Jacksonville, Florida area encumbered by Arbor loans, which Viceroy submits have property values likely below Arbor's loan balances. Asserting that Arbor's "entire loan book is distressed and underlying collateral is vastly overstated", Viceroy concluded that "Arbor is a donut. $0.00."
On this news, Arbor's stock price fell $0.71 per share, or 5.12%, over two trading sessions, to close at $13.15 per share on December 6, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
