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Girard Gibbs LLP and Peiffer Rosca Announce the Filing of a Securities Class Action Lawsuit on Behalf of Purchasers of Strategic Realty Trust, Inc.’s Common Stock in the Company’s IPO Between September 23, 2010 and February 7, 2013

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SAN FRANCISCO--(BUSINESS WIRE)--Girard Gibbs LLP (“Girard Gibbs”) and Peiffer Rosca Abdullah & Carr LLC (“Peiffer Rosca”) announce that a class action has been commenced in the United States District Court for the Northern District of California on behalf of persons and entities who purchased or otherwise acquired Strategic Realty Trust, Inc.’s common stock in or traceable to the Company’s initial public offering (“IPO”) between September 23, 2010 and February 7, 2013, pursuant to a registration statement and prospectus filed with the U.S. Securities and Exchange Commission. Prior to August 23, 2013, the Company was known as TNP Strategic Retail Trust, Inc.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from October 23, 2013. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Girard Gibbs attorney John Kehoe at (866) 981-4800 or (415) 981-4800, or via e-mail at jak@girardgibbs.com, or Peiffer Rosca attorney Alan Rosca at (888) 998-0520, or via email at arosca@praclawfirm.com.

The complaint alleges that the Company, its former affiliates Thompson National Properties, LLC, TNP Strategic Retail Advisor, LLC and TNP Securities, LLC, and certain of the Company’s current or former officers and directors violated Sections 11, 12(a)(2) and/or 15 of the Securities Act of 1933. Among other things, the complaint alleges that the offering materials provided to investors during the IPO contained material misrepresentations and omissions about the financial health of the Company and its affiliates and about the performance of earlier real estate programs sponsored by the Company’s affiliates.

On January 16, 2013, the Company revealed that it had defaulted on a $29 million loan that its CEO and Chairman had personally and unconditionally guaranteed and on its $45 million revolving credit facility. Then, on August 28, 2013, the Company issued a press release disclosing that a board-level “Special Committee” had been formed a year earlier “for the protection of shareholders” after one of the Company’s affiliates was found to be paying fees to itself that had not been earned; and that its affiliates had defaulted on certain corporate debt obligations and had sustained significant corporate losses. In the wake of this disclosure, the Company replaced its CEO and Chairman and severed its relationship with its affiliates.

If you are a member of this class, you can view a copy of the filed complaint or join this class action online at http://www.girardgibbs.com/strategic-realty-trust-investor-lawsuit/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Girard Gibbs LLP is one of the nation’s leading firms representing individual and institutional investors in securities fraud class actions and litigation to correct abusive corporate governance practices, breaches of fiduciary duty and proxy violations. For more information, please access the firm’s web site at www.GirardGibbs.com.

Peiffer Rosca, based in Louisiana with an office in Ohio, deals with complex and difficult legal and business matters, and has developed expertise in a variety of specialized areas of law to provide innovative solutions to its clients’ various needs. For more information, please access the firm’s website at http://www.praclawfirm.com/.

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