February 8, 2016
Bernstein Liebhard LLP is investigating whether Brixmor Property Group, Inc. (“Brixmor” or the “Company”) (NYSE: BRX) violated the federal securities laws by making misstatements concerning the Company’s accounting processes and oversight of financial reporting. The investigation concerns whether Brixmor and certain of its officers and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Brixmor is an internally-managed real estate investment trust, or REIT, which operates a portfolio of shopping centers in the United States. On February 8, 2016, Brixmor announced that three of its top officers, including its chief executive, had resigned after an internal accounting review showed discrepancies in the Company’s financial statements. The Company stated that its quarterly statements had been tampered with to show consistent growth in same-property net operating income. Brixmor Chairman John Schreiber stated that “[t]he board is disappointed to have learned of the conduct and lack of appropriate management supervision uncovered as a result of [an] Audit Committee review.” As a result of this news, Brixmor stock has fallen over 20% in intra-day trading.
If you have lost money in Brixmor, are interested in discussing your rights as a Brixmor shareholder, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.