NEW YORK, Feb. 8, 2016 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in Brixmor Property Group Inc. securities (NYSE: BRX). Brixmor investors can contact Fei-Lu Qian at 877.370.7703 or firstname.lastname@example.org for more information.
On February 8, 2016, before the market opened, the Company revealed that certain accounting and financial reporting personnel "were smoothing income items…in an effort to achieve consistent quarterly same property net operating income." As a result, the Company's Chief Executive Officer, President and Chief Financial Officer, and Chief Accounting Officer resigned, effective immediately. The Company's Chairman stated, "The Board is disappointed to have learned of the conduct and lack of appropriate management supervision."
On this disclosure, Brixmor common stock declined as much as $6.00 per share or over 21% on intraday trading.
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