Brixmor Property Group. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Brixmor Property Group Inc. (NYSE: BRX) securities between October 27, 2014 and February 5, 2016.
According to the complaint, throughout the class period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company purposefully misrepresented Brixmor’s financial results by manipulating income items for nine quarters; and (2) Brixmor did not have adequate internal and financial controls.
On February 8, 2016, Brixmor announced that its CEO, President and Chief Financial Officer, and Chief Accounting Officer, as well as an accounting employee, had resigned effective immediately. Brixmor announced these resignations stem from an Audit Committee review that determined that “specific Company accounting and financial reporting personnel, in certain instances, were smoothing income items, both up and down, between reporting periods in an effort to achieve consistent quarterly same property net operating income” growth.
“Brixmor Property Group”
If you suffered a loss in Brixmor you have until May 31, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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