Shareholders of Nicholas Schorsch-controlled REIT American Finance Trust are suing over an IPO that wiped $1 billion off the company’s market value. The REIT, which started trading on the Nasdaq on July 19, opened at $13.15 per share and closed at $15 per share. On Oct. 14, the company’s stock price closed at $14 per share, 40 percent lower than its net asset value of $23.56 per share. The plaintiffs, led by a certain Terry […]
source https://therealdeal.com/2018/10/26/schorsch-reit-sued-for-providing-misleading-information-to-shareholders/
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