Proposed Settlement Announced for Cedar Realty Trust Preferred Stockholders' Class Action
A proposed settlement has been reached in a class action lawsuit involving preferred stockholders of Cedar Realty Trust, Inc. (CDR.PR.B and CDR.PR.C). The case, filed by several plaintiffs on behalf of holders of Series B and C Preferred Stock as of March 2, 2022, seeks to resolve claims against multiple defendants including Bruce Schanzer, Gregg Gonsalves, Cedar Realty Trust, Inc., and Wheeler Real Estate Investment Trust. If approved, the settlement would provide $8.5 million in cash distributed on a pro rata basis among eligible class members. The proposed terms are subject to court approval at a hearing scheduled for October 8, 2026. Class members may object or request exclusion by September 24, 2026. The settlement aims to resolve claims against the defendants and release them from further liability related to the case. A detailed explanation of rights and procedures is available on the official settlement website. The outcome could impact preferred stockholders who are part of this class action but will not require claim submissions for distribution.
Tickers: $CDR PRB
Topics: lawsuit preferred_stock settlement