LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Colony Capital, Inc. (“Colony Capital” or the “Company”) (NYSE: CLNY) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On November 8, 2019, before the market opened, Colony Capital reported a net loss of $555 million, or $1.15 per share, for third quarter 2019, which “notably included reductions of goodwill, impairments of real estate and provision for loan losses totaling $540.3 million.” Of this amount, “$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, the Company’s stock price fell $0.48 per share, or nearly 9%, to close at $5.00 per share on November 8, 2019, thereby injuring investors.
If you purchased Colony Capital securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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