Tuesday, June 14, 2016

CBL & Associates Says SEC Is Probing Four of Mall Owner’s Loans

Image result for CBL MallCBL & Associates Properties Inc., a U.S. shopping-mall owner, said the Securities and Exchange Commission is conducting an investigation of four of the company’s loans originated in 2011 and 2012.

The review is to ensure that information provided to lenders on leasing reports, revenue and projected revenue “did not materially vary” from CBL’s financial statements, the Chattanooga, Tennessee-based real estate investment trust said in a statement Monday. CBL hired Ernst & Young to conduct an independent investigation, the findings of which will be presented to the SEC.. . . more

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