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| [January 07, 2013] |
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Glancy Binkow & Goldberg LLP Announces Investigation of CommonWealth REIT
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of purchasers of the common shares of
CommonWealth REIT ("CommonWealth" or the "Company") (NYSE:CWH)
concerning possible violations of federal securities laws. The
investigation focuses on allegations that certain statements issued by
CommonWealth between January 10, 2012 and August 8, 2012 were false and
misleading concerning the Company's business and financial prospects.
CommonWealth is a real estate investment trust, whose primary business
is the ownership and operation of real estate, including office and
industrial buildings and leased industrial land. The investigation
concerns allegations that the Company misrepresented or failed to
disclose that: (1) CommonWealth was experiencing softness in the leasing
market as the number of leased office spaces was below internal
expectations, especially in the suburban office segment; (2) concessions
granted to existing tenants were further erodig the Company's rental
income; and (3) as a result of the foregoing, there was no reasonable
basis for the Company's positive statements about CommonWealth's
leverage ratio, occupancy rate and dividend payout.
On August 8, 2012 CommonWealth announced it would likely reduce its
dividend because, among other things, the Company's cash available for
distribution payout ratio had increased to 108%. In addition, the
Company disclosed a decline in its occupancy rate, from 84.8% in March
2012 to 84.5% as of June 30, 2012. Following this news, CommonWealth
common shares fell 9%, or $1.57 per share, to close at $16.48 per share
on August 8, 2012.
If you purchased CommonWealth shares between January 10, 2012 and August
8, 2012, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, by telephone at (310)
201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

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