NEW YORK, May 31, 2016 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Brixmor Property Group Inc. ("Brixmor" or the "Company") (NYSE: BRX) between October 27, 2014 and February 5, 2016.
You are hereby notified that a securities class action has commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Brixmor securities between October 27, 2014 and February 5, 2016, your rights may be affected by this action. To get more information go to: http://www.zlk.com/pslra/brixmor-property-group.
The complaint alleges that, 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.
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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pslra/brixmor-property-group.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP