{"id":451864,"date":"2021-03-05T11:03:33","date_gmt":"2021-03-05T16:03:33","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451864"},"modified":"2021-03-05T11:03:33","modified_gmt":"2021-03-05T16:03:33","slug":"glancy-prongay-murray-llp-a-leading-securities-fraud-law-firm-announces-investigation-of-washington-prime-group-inc-wpg-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-a-leading-securities-fraud-law-firm-announces-investigation-of-washington-prime-group-inc-wpg-on-behalf-of-investors\/","title":{"rendered":"Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Washington Prime Group, Inc. (WPG) on Behalf of Investors"},"content":{"rendered":"

<\/p>\n

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Washington Prime Group, Inc. (WPG) on Behalf of Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Washington Prime Group, Inc. (\u201cWPG\u201d or the \u201cCompany\u201d) (NYSE: WPG<\/a>) investors concerning the Company\u2019s possible violations of the federal securities laws.\n<\/p>\n

\nIf you suffered a loss on your WPG investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/washington-prime-group-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.\n<\/p>\n

\nOn February 16, 2021, WPG disclosed that its operating partnership, Washington Prime Group, L.P. (“WPG L.P.”), had “elected to withhold an interest payment of $23.2 million due on February 15, 2021 with respect to WPG L.P.’s outstanding Senior Notes due 2024,” and that “WPG L.P. has a 30-day grace period to make the interest payment before such non-payment constitutes an ‘event of default.'” The Company further advised that, in an event of default, certain counterparties to the senior notes “could accelerate the outstanding indebtedness due . . . making such indebtedness due and payable, which would result in a cross-default with respect to some of WPG L.P.’s or the Company’s other indebtedness.”\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $4.59, or 38%, to close at $7.49 per share on February 16, 2021, thereby injuring investors.\n<\/p>\n

\nThen, on March 4, 2021, Bloomberg reported that WPG \u201cis preparing a potential bankruptcy filing as time runs out to avert default after it skipped an interest payment on its debt, according to people with knowledge of the plans.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $3.77, or 60%, to close at $2.51 per share on March 4, 2021, thereby injuring investors further.\n<\/p>\n

\nFollow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.\n<\/p>\n

Whistleblower Notice:<\/span><\/b> Persons with non-public information regarding WPG should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com<\/a>.\n<\/p>\n

About GPM<\/span><\/b><\/p>\n

\nGlancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM\u2019s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM\u2019s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM\u2019s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM\u2019s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal<\/i>, The Financial Times<\/i>, Bloomberg Businessweek<\/i>, Reuters<\/i>, the Associated Press<\/i>, Barron\u2019s<\/i>, Investor\u2019s Business Daily<\/i>, Forbes<\/i>, and Money<\/i>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210305005063\/en\/<\/a><\/span><\/p>\n

\nGlancy Prongay & Murray LLP, Los Angeles
\n
Charles H. Linehan, 310-201-9150 or 888-773-9224
\n
1925 Century Park East, Suite 2100
\n
Los Angeles, CA 90067
\n
www.glancylaw.com
\n<\/a>
shareholders@glancylaw.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Washington Prime Group, Inc. (WPG) on Behalf of Investors LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Washington Prime Group, Inc. (\u201cWPG\u201d or the \u201cCompany\u201d) (NYSE: WPG) investors concerning the Company\u2019s possible violations of the federal securities laws. If you suffered a loss on your WPG investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/washington-prime-group-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Washington Prime Group, Inc. (WPG) on Behalf of Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451864","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Washington Prime Group, Inc. 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(WPG) on Behalf of Investors LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Washington Prime Group, Inc. (\u201cWPG\u201d or the \u201cCompany\u201d) (NYSE: WPG) investors concerning the Company\u2019s possible violations of the federal securities laws. If you suffered a loss on your WPG investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/washington-prime-group-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or … Continue reading "Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Washington Prime Group, Inc. 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