NEW YORK, Feb. 12, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Brixmor Property Group, Inc. ("Brixmor" or the "Company") (NYSE: BRX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Brixmor and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 8, 2016, pre-market, Brixmor announced the resignations of Chief Executive Officer Michael Carroll, President and Chief Financial Officer Michael Pappagallo, and Chief Accounting Officer Steven Splain, effective immediately. The resignations follow an unfavorable audit committee review of the company's non-GAAP reporting measure, which led the board to conclude that specific accounting and financial reporting personnel were "smoothing income items, both up and down," to show consistent quarterly same property net operating income growth.
On this news, Brixmor stock has fallen as much as $4.43, or 16.8%, to $21.99 during intraday trading on February 8, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz LLP email@example.com
SOURCE Pomerantz LLP