NEW YORK, April 07, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in United States District Court for the Southern District of New York on behalf of all persons or entities that purchased Brixmor Property Group, Inc. ("Brixmor" or the Company") (NYSE:BRX) publicly traded securities during the period between October 27, 2014 and February 5, 2016, inclusive (the "Class Period").
Shareholders who have incurred losses in Brixmor Property Group, Inc. securities are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased shares of Brixmor Property Group, Inc., you may, no later than May 31, 2016, request that the Court appoint you lead plaintiff of the proposed class.
The filed Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company and its senior executives purposefully misrepresented Brixmor's financial results by manipulating income items for nine quarters in order to achieve consistent quarterly same property NOI growth; (2) the Company lacked adequate internal and financial controls; and (3) that, as a result of the foregoing, Defendants' statements about Brixmor's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On this news, shares of Brixmor dropped over 20%, closing at $21.10 per share on February 8, 2016, on heavy trading volume.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Brixmor investigation.”
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