Wheeler Real Estate Investment Trust shares are trading higher after the company and its subsidiary, Cedar Realty Trust, announced that the United States Court of Appeals for the Fourth Circuit affirmed a 2023 order dismissing a putative class action complaint filed against the company and Cedar by purported holders of Cedar's preferred stock.
Portfolio Pulse from Benzinga Newsdesk
Wheeler Real Estate Investment Trust's shares rose after a court dismissed a class action complaint against the company and its subsidiary, Cedar Realty Trust.
September 06, 2024 | 12:46 pm
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Wheeler Real Estate Investment Trust's shares increased following a favorable court ruling dismissing a class action complaint against the company and Cedar Realty Trust.
The dismissal of the class action complaint removes a legal overhang, likely boosting investor confidence and positively impacting WHLR's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90