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MoKa Represents Closed-End Fund Misled By REIT Management

Morris Kandinov has filed an action on behalf of the High Income Securities Fund in connection with its purchase of preferred stock issued by Cedar Realty Trust, Inc. (ticker: CDR). Prior to the fund’s purchase, Cedar’s management made a series of misrepresentations that led preferred stockholders to believe that Cedar was seeking a strategic transaction that would benefit both common and preferred stockholders. In reality, management was orchestrating a transaction that would be significantly detrimental to preferred stockholders. When announced, the transaction caused the value of the preferred stock to plummet more than 57%.

By MoKa
07/11/22

For more information regarding the case, contact Leo Kandinov at leo@moka.law.