RADNOR, PA / ACCESSWIRE / May 8, 2018 / Kaskela Law LLC alerts Colony NorthStar, Inc. (NYSE: CLNS) ("Colony NorthStar" or the "Company") investors that a class action lawsuit has been filed on behalf of purchasers of the Company's securities February 28, 2017 and March 1, 2018, inclusive (the "Class Period").
DEADLINE ALERT: Investors who purchased Colony NorthStar securities during the Class Period may, no later than June 5, 2018, seek to be appointed as a lead plaintiff representative of the investor class. Colony NorthStar investors are encouraged to visit www.kaskelalaw.com/case/colony-northstar to receive additional information about this action and submit their information online.
The shareholder class action complaint alleges that Colony NorthStar and certain of its senior executive officers made false and misleading statements and/or failed to disclose to investors that: (i) Colony NorthStar's Healthcare and Investment Management segments were performing worse than reported; and (ii) as a result, Colony NorthStar's public statements were materially false and misleading at all relevant times. The complaint further alleges that, as a result of the foregoing, investors purchased Colony NorthStar's securities at artificially inflated prices during the Class Period and sustained significant investment losses when the truth was revealed.
On March 1, 2018, Colony NorthStar reported its financial and operating results for the quarter and year ended December 31, 2017. Therein the Company disclosed to investors a goodwill impairment of $375 million attributable to its Healthcare and Investment Management segments.
Following this news, shares of the Company's stock fell $1.78 per share, or nearly 23%, to close on March 1, 2018 at $6.00 per share.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(888) 715 - 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com
SOURCE: Kaskela Law LLC
