NEW ORLEANS, April 29, 2016 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 31, 2016 to file lead plaintiff applications in a securities class action lawsuit against Brixmor Property Group Inc. (NYSE: BRX), if they purchased the Company's securities between October 27, 2014 and February 5, 2016, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Brixmor and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 31, 2016.
About the Lawsuit
Brixmor and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 8, 2016, Brixmor announced that its Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer, and an unnamed accounting employee had resigned after an internal accounting review by the Company's Audit Committee showed discrepancies in the Company's financial statements. The Company stated 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" net operating income results.
On this news, the price of Brixmor's shares plummeted by over 20% and it was downgraded by multiple analysts.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC