Proposed Settlement of Class Action for Cedar Realty Trust Preferred Stockholders Announced
Levi & Korsinsky LLP, in collaboration with Wohl & Fruchter LLP, recently announced a significant development concerning a class action lawsuit impacting preferred stockholders of Cedar Realty Trust, Inc. (NYSE: CDR). This follows a growing interest from investors, particularly those holding Series B and Series C Preferred Stocks. The announcement includes a summary notice regarding the pending lawsuit titled Anthony Aquino, et al. v. Bruce Schanzer, et al., under Case No. C-15-cv-25-000731.
On August 3, 2026, the legal teams filed to notify all record and beneficial holders of Series B and C stocks, as recorded on March 2, 2022, of the proposed settlement. The terms involve a settlement payment amounting to $8.5 million in cash—an amount aimed at compensating those affected by the ongoing legal proceedings against several defendants, including Cedar Realty Trust and Wheeler Real Estate Investment Trust. The suit revolves around allegations that the defendants failed to fulfill their fiduciary duties to the stockholders, resulting in financial harm.
As part of the settlement proceedings, a virtual hearing will be convened on October 8, 2026, presided over by the Honorable Ronald B. Rubin of the Maryland Circuit Court. This hearing will be pivotal in deciding whether the proposed settlement is fair and reasonable and should be approved by the court.
Affected shareholders are encouraged to actively monitor updates regarding this lawsuit and the proposed settlement, as their legal rights may be influenced by the outcomes of the case. Key details, including provisions regarding the distribution of funds to eligible class members, will be outlined in a long-form notice available via the dedicated settlement website: www.CedarPreferredSettlement.com. Shareholders should also take note of critical deadlines for filing objections or opting out of the settlement. Specifically, any objections must reach the court and legal representatives by September 24, 2026, or risk being bound by the settlement terms.
In conclusion, while the proposed settlement appears promising, it carries implications that warrant diligence and attention from stockholders of Cedar Realty Trust. Stakeholders are urged to seek additional information, clarifications, or legal assistance, if needed, to navigate the implications of this unfolding situation effectively.
For further inquiries, shareholders can connect with the settlement administrator via the toll-free number 1-877-702-6945 or reach out to representatives from Levi & Korsinsky LLP or Wohl & Fruchter LLP for legal counsel. It is essential for all class members to stay informed and engaged to protect their interests as this matter progresses through the courts.
On August 3, 2026, the legal teams filed to notify all record and beneficial holders of Series B and C stocks, as recorded on March 2, 2022, of the proposed settlement. The terms involve a settlement payment amounting to $8.5 million in cash—an amount aimed at compensating those affected by the ongoing legal proceedings against several defendants, including Cedar Realty Trust and Wheeler Real Estate Investment Trust. The suit revolves around allegations that the defendants failed to fulfill their fiduciary duties to the stockholders, resulting in financial harm.
As part of the settlement proceedings, a virtual hearing will be convened on October 8, 2026, presided over by the Honorable Ronald B. Rubin of the Maryland Circuit Court. This hearing will be pivotal in deciding whether the proposed settlement is fair and reasonable and should be approved by the court.
Affected shareholders are encouraged to actively monitor updates regarding this lawsuit and the proposed settlement, as their legal rights may be influenced by the outcomes of the case. Key details, including provisions regarding the distribution of funds to eligible class members, will be outlined in a long-form notice available via the dedicated settlement website: www.CedarPreferredSettlement.com. Shareholders should also take note of critical deadlines for filing objections or opting out of the settlement. Specifically, any objections must reach the court and legal representatives by September 24, 2026, or risk being bound by the settlement terms.
In conclusion, while the proposed settlement appears promising, it carries implications that warrant diligence and attention from stockholders of Cedar Realty Trust. Stakeholders are urged to seek additional information, clarifications, or legal assistance, if needed, to navigate the implications of this unfolding situation effectively.
For further inquiries, shareholders can connect with the settlement administrator via the toll-free number 1-877-702-6945 or reach out to representatives from Levi & Korsinsky LLP or Wohl & Fruchter LLP for legal counsel. It is essential for all class members to stay informed and engaged to protect their interests as this matter progresses through the courts.
Topics Financial Services & Investing）
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