A securities class action has been filed against Washington Prime Group, Inc. (WPG) on behalf of persons and entities that purchased or otherwise acquired WPG securities between November 5, 2020 through March 4, 2021. This case has been filed in the USDC – S.D. Ohio.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that WPG’s financial condition was deteriorating substantially; (2) that, as a result, there was substantial uncertainty about the Company’s ability to meet its capital structure obligations as they became due; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.