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 - EconoTimes)
NEW YORK, April 01, 2016 -- Scott + Scott, Attorneys at Law, LLP, a global investor rights law firm, notifies investors that a securities lawsuit has been filed on behalf of investors in Brixmor Property Group, Inc. (NYSE:BRX). Brixmor investors are encouraged to contact Scott + Scott at (866) 326-5057 or email [email protected] to discuss their legal rights.
About the Lawsuit
On February 8, 2016, Brixmor disclosed that its Chief Executive Officer Michael Carroll, President and Chief Financial Officer Michael Pappagallo, Chief Accounting Officer Steven Splain and an accounting employee resigned, effective immediately. This news came after an audit committee uncovered that employees had been “smoothing” income in order make quarterly net operating income more steady. On this news shares of Brixmor fell over $5 per share, or nearly 20%, during intraday trading on February 8, 2016.
The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company and its senior executives purposefully misrepresented Brixmor's financial results by manipulating income items for nine quarters in order to achieve consistent quarterly same property NOI growth; (2) the Company lacked adequate internal and financial controls; and (3) that, as a result of the foregoing, Defendants' statements about Brixmor's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
What you can do
If you purchased shares of Brixmor stock, you may have legal claims against the Company. If you want to discuss the case, or have questions about your legal rights, please contact Geoffrey M. Johnson, Esq. or Joseph Halloran, Esq. by telephone at (866) 326-5057 or by email at [email protected] or [email protected].
About Scott + Scott, Attorneys at Law, LLP
Scott + Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California and Ohio. Please visit www.scott-scott.com for more information about the firm.
CONTACT: Scott + Scott, Attorneys at Law, LLP Geoffrey M. Johnson, Esq. Joseph Halloran, Esq. (216) 229-6088, toll-free (866) 326-5057 [email protected] [email protected]
