A lawsuit was filed on behalf of investors in Colony NorthStar, Inc. (NYSE: CLNS) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/06/2018 -- An investor, who purchased shares of Colony NorthStar, Inc. (NYSE: CLNS), filed a lawsuit over alleged violations of Federal Securities Laws by Colony NorthStar, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased Colony NorthStar, Inc. (NYSE: CLNS) should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On January 10, 2017, NorthStar Asset Management Group Inc., Colony Capital, Inc. and NorthStar Realty Finance Corp. closed their merger announced in 2016 with $56 billion of assets under management.
On February 28, 2017, Colony NorthStar, Inc. reported its fourth quarter 2016 financial results. Among other things, Colony NorthStar, Inc. updated its 2017 guidance.
Shares of Colony NorthStar, Inc. (NYSE: CLNS) reached $14.35 per share in July 2017.
On March 1, 2018, Colony NorthStar, Inc. announced its fourth quarter and full year 2017 financial results. Colony NorthStar, Inc. reported that its annual Total Revenue rose from $208.47 million in 2016 to $720.34 million in 2017 and that its Net Income of $24.65 million in 2016 turned into a Net Loss of $294.58 million in 2017.
The plaintiff claims that between February 28, 2017 and March 1, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Colony NorthStar's Healthcare and Investment Management segments were performing worse than reported and that as a result, Colony NorthStar's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Colony NorthStar, Inc. (NYSE: CLNS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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