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Investors file securities class-action lawsuit against CBL & Associates

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Investors file securities class-action lawsuit against CBL & Associates

CBL &Associates Properties Inc. faces another securities class-actionlawsuit, this time from a group of investors represented by The ShareholdersFoundation Inc.

The legal complaint follows a similar charge against thecompany filed byGlancy Prongay & Murray LLP on behalf of certain investors who acquiredsecurities from Aug. 8, 2013, to May 24.

CBL had deniedthe allegations in May, saying the claims were "baseless," and noregulatory body had contacted the company or its executives.

The latest case claimed that CBL allegedly made materiallyfalse and/or misleading statements and/or allegedly failed to disclosesignificant information, including that some of its employees may havedisclosed material nonpublic data to Sen. Robert Corker, R-Tenn.

It also alleged that the company failed to informstockholders that some of its financing transactions were gained by fraudand/or misrepresentation, according to The Shareholders Foundation.