BALA CYNWYD, Pa., May 27, 2016 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces an investigation Brixmor Property Group, Inc. ("Brixmor" or the "Company") (NYSE -BRX- News) for potential violations of federal securities laws and breaches of the Brixmor Board's fiduciary duties.
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The investigation concerns a securities class action lawsuit commenced in the United States District Court for the Southern District of New York. The complaint alleges that the Defendants made false and misleading statements including failing to disclose: (1) that the Company purposefully misrepresented Brixmor's financial results by manipulating income items for nine quarters; and (2) that the Company lacked adequate internal and financial controls. On February 8, 2016, Brixmor announced that its CEO, President, CFO, Chief Accounting Officer, and an accounting employee had resigned. Further, Brixmor announced that an Audit Committee review had determined that specific Company accounting and reporting personnel, in certain instances, were smoothing income items in an effort to achieve consistent quarterly same property net operating income growth.
If you purchased shares of Brixmor between October 27, 2014 and February 5, 2016, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC before May 31, 2016, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, by visiting http://brodsky-smith.com/1079-brx-brixmor-property-group-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders.
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