Franklin BSP Realty Trust Faces Securities Lawsuit Over Alleged Dividend Misrepresentation
Franklin BSP Realty Trust, Inc. (FBRT) is facing a securities class action lawsuit alleging misrepresentation regarding dividend coverage. The lawsuit names Michael Comparato, former President and current CEO, as a defendant. The stock fell 14.18% following the announcement of a dividend cut from $0.355 to $0.20 per share.
Tickers: $FBRT
Topics: dividend cut executive accountability misleading statements real estate lending securities class action