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CBL & Associates said to be under probe by FBI, SEC for fraud

Published Thu, May 26, 2016 · 09:50 PM
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New York

SHARES of CBL & Associates Properties Inc fell the most in almost five years after a published report said the US retail landlord is being investigated for accounting fraud.

The stock of the Chattanooga, Tennessee-based real estate investment dropped 8.4 per cent, the most since August 2011, to close at US$9.40 on Wednesday. The Wall Street Journal reported late Tuesday that the Federal Bureau of Investigation (FBI) and the Securities Exchange Commission…

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