Did your stockbroker or financial adviser lose your money by recommending CBL stock?
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As malls dwindle, so has the stock price of CBL & Associates Properties, Inc. (NYSE: CBL)
Shoppers are skipping the mall, and stores that were once mall mainstays—Sear’s, for instance—are closing for good. Even with clear warning signs on the horizon for years, some brokers and advisers continued to advise their clients to purchase shares of CBL, a real estate investment trust that owns and operates malls and other shopping centers across much of the country.
Unfortunately, those who purchased shares in CBL & Associates Properties in the last few years have seen its value plummet. As of November 30, 2018, shares were valued at a mere $2.61 – an approximate 78% drop from their value two years ago.
Like other real estate investment trusts, CBL must pay out most of its taxable income as dividends. This potential source of income can attract small investors who may rely on advice from a broker or adviser.
In some cases, these professionals may have relied on unsound advice from financial analysts who failed to see the warning signs and recommended CBL as a good buy. However, it was not.
CBL’s properties belong to a particularly troubled sector. Consumers are turning increasingly to online shopping, and a growing list of mall retailers have closed their doors in the face of bankruptcy, including the likes of CBL tenants Brookstone, Claire’s and Payless Shoesource. The company is itself saddled with debt. In 2017, it cut its dividend, and another reduction is anticipated.
If you suffered heavy losses after purchasing shares of CBL through an investment adviser or stockbroker, you may be able to recover your money through a process called FINRA arbitration.
FINRA arbitration is a unique, narrow area of the law. The attorneys at Epperson & Greenidge have extensive experience working within FINRA and we specialize in bringing these arbitration claims on behalf of investors.
We accept all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so call 877-445-9261 now to speak to a private placement investment fraud attorney at Epperson & Greenidge for free.