Core Viewpoint - The article discusses the significant decline in share prices of CTO Realty Growth, Inc. following allegations from Wolfpack Research regarding misleading statements about dividend sustainability and questionable financial practices [1][2]. Group 1: Allegations and Investigations - Wolfpack Research published a report accusing CTO of misleading investors about its dividend sustainability and engaging in dubious financial activities, prompting Hagens Berman to investigate potential violations of securities laws [1][2]. - The investigation focuses on CTO's assurances regarding adherence to accounting rules and the use of non-GAAP accounting metrics, particularly the definition of Adjusted Funds From Operation (AFFO) [2][4]. - Wolfpack's report claims that CTO's management has misrepresented the quality of its real estate portfolio and asset values, highlighting financial distress in some properties and reliance on dilution to cover a $38 million dividend shortfall [3][4]. Group 2: Financial Practices and Management - The report criticizes CTO's management for using a manipulative definition of AFFO that excludes recurring capital expenditures, which is not consistent with practices of peer REITs, and suggests that this has inflated management bonuses by $8 million [4]. - Hagens Berman's investigation aims to determine if CTO misled investors regarding the quality of its real estate portfolio and the propriety of its financial reporting practices [4]. Group 3: Call to Action for Investors - Hagens Berman encourages CTO investors who have experienced substantial losses to come forward and assist in the investigation, as well as whistleblowers with non-public information [5][6]. - The firm highlights the potential for whistleblowers to receive rewards under the SEC Whistleblower program for providing original information that leads to successful recovery [5].