Colony Capital, Inc. (CLNY)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Colony Capital, Inc. (CLNY)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Colony Capital, Inc.(“Colony” or the “Company”) (NYSE: CLNY). The investigation concerns whether Colony and certain of its officers and/or directors have violated federal securities laws.
On November 8, 2019, Colony announced its financial results for the third quarter of 2019. Among other results, the Company reported a GAAP net loss of $555 million, or $1.15 per share, which “notably included reductions of goodwill, real estate and provision for loan losses totaling $540.3 million . . . of which $387.0 million was attributable to the reduction of goodwill primarily as a result of the pending sale of the Company’s industrial investment management business and related real estate portfolio, and the decrease in management fees from Colony Credit Real Estate, Inc. resulting from impairments related to its portfolio bifurcation.” On this news, Colony’s stock price fell $0.48 per share, or 8.76%, to close at $5.00 per share on November 8, 2019.
If you are aware of any facts relating to this investigation, or purchased Colony shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.