{"id":499587,"date":"2021-05-27T16:49:50","date_gmt":"2021-05-27T20:49:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/washington-prime-group-inc-class-action-alert-wolf-haldenstein-adler-freeman-herz-llp-reminds-investors-that-a-securities-class-action-lawsuit-has-been-filed-in-the-united-states-district-cou\/"},"modified":"2021-05-27T16:49:50","modified_gmt":"2021-05-27T20:49:50","slug":"washington-prime-group-inc-class-action-alert-wolf-haldenstein-adler-freeman-herz-llp-reminds-investors-that-a-securities-class-action-lawsuit-has-been-filed-in-the-united-states-district-cou","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/washington-prime-group-inc-class-action-alert-wolf-haldenstein-adler-freeman-herz-llp-reminds-investors-that-a-securities-class-action-lawsuit-has-been-filed-in-the-united-states-district-cou\/","title":{"rendered":"WASHINGTON PRIME GROUP, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of Ohio against Washington Prime Group, Inc."},"content":{"rendered":"

\nLEAD PLAINTIFF DEADLINE IS JULY 23, 2021
\n<\/h2>\n
\n

NEW YORK, May 27, 2021 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP<\/a> announces that a federal securities class action lawsuit has been filed against Washington Prime Group, Inc. (\u201cWashington Prime\u201d or \u201cWPG\u201d) (NYSE: WPG) in the United States District Court for the Southern District of Ohio on behalf of those who purchased or otherwise acquired publicly traded Washington Prime securities between November 5, 2020 and March 4, 2021, inclusive (the \u201cClass Period\u201d).<\/p>\n

\n All investors who purchased shares of Washington Prime Group, Inc<\/strong>. and incurred losses are urged to contact the firm immediately at <\/strong>classmember@whafh.com<\/strong><\/a> or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or <\/strong>join the case<\/strong><\/a> on our website, <\/strong>www.whafh.com.<\/strong><\/a><\/p>\n

If you have incurred losses in your investment in shares of Washington Prime Group, Inc., you may,<\/strong>no later than July 23, 2021, <\/strong>request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein<\/a> to learn more about your rights as an investor in the shares of Washington Prime Group, Inc.<\/p>\n

\n
\n CLICK HERE TO JOIN CASE<\/a>
\n <\/strong>\n <\/p>\n

On February 16, 2021, WPG disclosed that its operating partnership, Washington Prime Group, L.P. (\u201cWPG L.P.\u201d), had \u201celected to withhold an interest payment of $23.2 million due on February 15, 2021 with respect to WPG L.P.\u2019s outstanding Senior Notes due 2024,\u201d <\/em>and that \u201cWPG L.P. has a 30-day grace period to make the interest payment before such non-payment constitutes an \u2018event of default.\u2019\u201d The Company further advised that, in an event of default, certain counterparties to the senior notes \u201ccould 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.\u2019s or the Company\u2019s other indebtedness.\u201d <\/em><\/p>\n

On this news, the Company\u2019s stock price fell $4.59, or 38%, to close at $7.49 per share on February 16, 2021, on unusually heavy volume.<\/p>\n

Then, on March 4, 2021,\u00a0Bloomberg<\/em>\u00a0reported 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<\/em><\/p>\n

On this news, the Company\u2019s stock price fell $3.77, or 60%, to close at $2.51 per share on March 4, 2021, on unusually heavy volume.<\/p>\n

\n Wolf Haldenstein<\/a> has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.<\/p>\n

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein<\/a> by telephone at (800) 575-0735, via e-mail at classmember@whafh.com<\/a>, or visit our website.<\/a><\/p>\n

Contact:<\/p>\n

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com<\/a>, donovan@whafh.com<\/a>\u00a0or classmember@whafh.com<\/a>
Tel: (800) 575-0735 or (212) 545-4774<\/p>\n

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

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

LEAD PLAINTIFF DEADLINE IS JULY 23, 2021 NEW YORK, May 27, 2021 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against Washington Prime Group, Inc. (\u201cWashington Prime\u201d or \u201cWPG\u201d) (NYSE: WPG) in the United States District Court for the Southern District of Ohio on behalf of those who purchased or otherwise acquired publicly traded Washington Prime securities between November 5, 2020 and March 4, 2021, inclusive (the \u201cClass Period\u201d). All investors who purchased shares of Washington Prime Group, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join … <\/p>\n

Continue reading “WASHINGTON PRIME GROUP, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of Ohio against Washington Prime Group, Inc.”<\/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-499587","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nWASHINGTON PRIME GROUP, INC. 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All investors who purchased shares of Washington Prime Group, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join … Continue reading "WASHINGTON PRIME GROUP, INC. 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