:quality(75))
The SEC is opening an investigation into four of CBL’s loans originated in 2011 and 2012.
CBL & Associates is the fourth-largest shopping mall REIT in the US, and the company says the SEC is conducting the review to make sure information the firm gave to lenders on leasing reports “did not materially vary” from CBL’s financial statements, Bloomberg reports.
The Wall Street Journal reported on May 24 that CBL was under investigation by federal law enforcement officials for alleged accounting fraud, and the REIT soon after released a statement denying the allegations. CBL CEO Stephen Leibovitz said last week that he wasn’t aware of any investigation into the company. [Bloomberg]
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