Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Colony Northstar (NYSE:CLNS) in connection to alleged violations of securities laws by CLNS. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Colony Northstar between February 28, 2017 and March 1, 2018.
The class action complaint specifically alleges that during the period in question, CLNS might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company’s Healthcare and Investment Management segments were experiencing performance below the company’s reports; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true details emerged, investors suffered losses.
According to the company’s website, Colony Northstar is a diversified equity real estate investment trust that has “an embedded institutional and retail investment management business.” It focuses on creating “attractive, risk-adjusted returns” as well as long-term value for its shareholders and investors by way of its “global scale and operating platform,” its access to capital markets, and its ability to make investments throughout the capital stack. The company operates 18 locations across the world, maintains $43 billion in assets under its management, and has 500 employees worldwide as of December 31, 2017. It trades on the New York Stock Exchange under the symbol CLNS.
A class action lawsuit has already been filed in connection with Colony Northstar. If you wish to serve as lead plaintiff in the CLNS lawsuit, you must move the Court no later than June 5, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.