Cedar Realty and Wheeler announce Fourth Circuit affirms dismissal of preferred stock class action

CEDAR REALTY TRUST, INC.

On Sept 4, 2024, Fourth Circuit affirmed district court's dismissal of Kim et al. v. Cedar Realty Trust class action.
Lawsuit by preferred holders alleged breach of contract, breach of fiduciary duty, and tort claims.
Court opinion stated plaintiffs only regret terms they bargained for, not a legal violation.
CEO M. Andrew Franklin called the outcome positive; companies positioned to execute strategic plans.

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