NEW YORK, NY / ACCESSWIRE / November 22, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Service Properties Trust ("SVC" or the "Company") (NASDAQ:SVC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether SVC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On October 16, 2024, SVC announced a quarterly dividend of $0.01 per share, representing a 95% decrease from its prior dividend of $0.20 per share. SVC also announced plans to sell roughly half of its hotel properties in order to boost its liquidity and pay down debt.
On this news, SVC's stock price fell $0.78 per share, or 16.39%, to close at $3.98 per share on October 16, 2024.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP