NEW YORK, August 24, 2020 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of investors of Colony Credit Real Estate, Inc. ("Colony Credit" or the "Company") (NYSE: CLNC). We recommend that you contact these investors Robert S. Willoughby at the (Email protected) or 888-476-6529, ext. 7980.
The investigation concerns whether Colony Credit and any of its officers and / or directors have committed securities fraud or other illegal business practices.
(Click here for information on how to participate in the class action.)
Up or over 1st February 2018, Colony Credit has issued a registration statement and prospectus relating to the combination of Colony NorthStar, Inc., NorthStar Real Estate Income Trust, Inc., and NorthStar Real Estate Income II, Inc. (the "Merger").
Then further August 8, 2019Colony Credit issued a press release reporting on its financial results for the second quarter of 2019 in which a $ 119 million Provision for credit losses. In the news, the company's share price fell $ 2.00 per share or more than 12% close over two consecutive trading sessions $ 14.05 per share on 12. August, 2019.
Additionally on November 8, 2019The company announced a portfolio split of certain assets and announced a $ 127 million Provision for credit losses. In the news, the company's share price fell $ 2.50or nearly 18% to close at $ 11.75 per share on November 8th, 2019. According to this information, Colony Credit's shares were trading too roughly $ 6.59 per share, a decrease of more than 73% over the $ 25 Book value per share at the time of the merger.
The Pomerantz company with offices in new York, Chicago, los Angeles, and Paris is recognized as a leader in corporate, securities and antitrust litigation. Established by the late Abraham L. PomerantzPomerantz Company, known as the dean of class action, pioneered class action lawsuits. Today, more than 80 years later, Pomerantz continues its tradition and fights for the rights of victims of securities fraud, fiduciary violations and corporate misconduct. The company has received numerous millions of dollars in damages on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP