STEVENSON, Md., July 18, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Tennessee on behalf of purchasers of CBL & Associates Properties, Inc. (NYSE:CBL) (“CBL” or the “Company”) common stock for the period to August 9, 2011 and May 24, 2016, inclusive (the “Class Period”).  Investors with losses in excess of $100,000 who wish to become proactively involved in the litigation have until July 26, 2016 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court.  The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in CBL securities during the Class Period.  Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.  No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that certain of the Company’s employees may have provided material non-public information to Senator Robert Corker and that certain of its financing arrangements were obtained through fraud and/or misrepresentation.

According to the complaint, following a May 24, 2016 Wall Street Journal article reporting that CBL is under investigation by both the Federal Bureau of Investigation and the U.S. Securities and Exchange Commission for allegedly inflating the Company’s rental income and occupancy rates for its properties when providing those figures to banks while applying for financing arrangements and that both agencies questioned the relationship between the Company and Senator Corker, the value of CBL shares declined significantly.

If you have suffered a loss from investment in CBL common stock purchased on or after August 8, 2013 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.  You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.  Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com

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