Major Mall REIT Voluntarily Delists from NYSE

New York Stock Exchange building

After filing for bankruptcy over the summer, Washington Prime Group (WPG) recently decided to voluntarily delist its publicly-traded stock from the New York Stock Exchange (NYSE).

Vernon Litigation Group has been conducting investigations into this REIT since its bankruptcy announcement in June. As we reported in our recent blog post, WPG has struggled immensely since its inception several years ago. Revenue, net income, and other major financial metrics have suffered a substantial decline in the past several years.


News broke this week that WPG is expected to voluntarily delist its stock on September 20 of this year. Delisting is a process where a company is removed from the stock exchange where it trades publicly. According to Investopedia, delisting commonly occurs when the company fails to meet exchange requirements, files for bankruptcy, ceases operations, and other significant events.

Bankruptcy Exit

The judge overseeing the case, Marvin Isgur, recently approved WPG’s plans to exit its Chapter 11 bankruptcy proceedings. Bloomberg reported that Isgur approved a plan for investment firm SVPGlobal to take over WPG while SVPGlobal essentially forgives WPG’s debt. There may be additional offers that are presented to WPG before the deal is finalized, which may change the course of the company.

However, the problem is that WPG’s value is largely unknown. In another Bloomberg article, Judge Isgur stated in a hearing that “I suspect that no matter how many conversations you had, no one would ever know what the true value is.” This leaves investors is a terrible position of uncertainty, as WPG’s stock currently trades at less than $2 per share.


If you are an investor who incurred losses in Washington Prime Group (WPG) or any of its subsidiaries and/or affiliates, please contact us to discuss your rights and options. Vernon Litigation Group provides confidential, no-cost consultations to investors to protect and preserve their rights.

Contact Us Today

Vernon Litigation Group represents investors in a variety of financial litigation and disputes across the United States. The firm represents investors in securities litigation, FINRA arbitration, financial disputes with brokers and institutions, and others. Call us today at 239-319-4434 to speak with an experienced financial attorney.

Related Posts
  • Robinhood Experiences Massive Data Breach Affecting Millions of Users Read More
  • International Businesswoman Pleads Guilty in $20 Million EB-5 Scam Read More
  • Coinbase Cryptocurrency Exchange Slammed for Poor Customer Service Read More