
ABR ALERT: Bragar Eagel & Squire, P.C. is Investigating Arbor Realty Trust, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm
The complaint alleges that throughout 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. Defendants provided investors with this information in quarterly and annual reports filed with the SEC as well as orally during earnings conference calls.
According to the complaint, investors discovered that these statements were false and/or materially misleading over the course of several corrective disclosures. First, on March 14, 2023, NINGI Research published a report on ABR (the 'NINGI Report'), claiming inter alia that 'ABR has been hiding a toxic real estate portfolio of mobile homes with a complex web of real and fake holdings companies for more than a decade.' In response to the report, ABR's stock price fell from $12.99/share on March 13, 2023 to $12.12/share on March 14, 2023 and then $11.53/share on March 15, 2023.
Next, on December 5, 2023, Viceroy published an in-depth study of ABR's Jacksonville, FL properties (the 'Viceroy Report'). Based on their findings, Viceroy declared that in an 'industry plagued with delusion and bad decisions, ABR stands out as the worst of the worst. Viceroy's dive into ABR's CLOs suggests its entire loan book is distressed and underlying collateral is vastly overstated.' In response to the report, ABR's stock price declined from 3 $13.86/share on December 4, 2023 to $13.67/share on December 5, 2023 and then $13.15/share on December 6, 2023.
On July 12, 2024, several months later, investor concerns stemming from the NINGI Report and Viceroy Report intensified when Bloomberg reported that ABR was 'being probed by federal prosecutors and the Federal Bureau of Investigation in New York.' According to the news report, '[t]he investigators are inquiring about lending practices and the company's claims about the performance of their loan book.' In response to the report, ABR's stock price declined from $15.53/share on July 11, 2024 to $12.89/share on July 12, 2024.
If you are a long-term stockholder of ABR, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.Brandon Walker, Esq.Marion Passmore, Esq.(212) 355-4648
[email protected]
www.bespc.com
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