NEW YORK, NY / ACCESSWIRE / July 20, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Arbor Realty Trust, Inc. ("Arbor ") (NYSE:ABR) concerning possible violations of federal securities laws.
Reuters published an article on July 12, 2024, entitled "U.S. DOJ probing Arbor Realty over loan practices, Bloomberg report." This article stated that "Arbor Realty Trust is being probed by federal prosecutors and the Federal Bureau of Investigation in New York months after short sellers attacked the lender's practices and disclosures, Bloomberg News reported on Friday." It further stated that in "2023, short sellers, including Viceroy Research and NINGI Research, published reports alleging that Arbor Realty Trust, which invests in a diversified portfolio of structured finance assets, had a distressed loan book. Viceroy Research claimed that Arbor's underlying collateral for the loans is vastly overstated, adding that the loans do not qualify for refinancing anywhere and are nearing maturity. NINGI Research accused the company of concealing a ‘toxic' real estate portfolio of mobile homes with ‘a complex web' of real and fake holding companies for over a decade."
Following this news, the price of Arbor stock dropped over 17% the same day. To obtain additional information, go to:
https://zlk.com/pslra-1/arbor-lawsuit-submission-form?prid=91502&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP