An investigation for investors in NYSE:BRX shares was announced over potential breaches of fiduciary duties by certain directors at Brixmor Property Group Inc.
Investors who purchased shares of Brixmor Property Group Inc (NYSE:BRX) and currently hold any of those Brixmor Property Group Inc (NYSE:BRX shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Brixmor Property Group Inc (NYSE:BRX officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 8, 2016, Brixmor Property announced that its Chief Executive Officer Michael Carroll, President and Chief Financial Officer Michael Pappagallo, Chief Accounting Officer Steven Splain, and an accounting employee resigned, effective immediately. Brixmor Property Group Inc said that these management changes follow the completion of an Audit Committee review that began after the Company received information in late December 2015 through its established compliance processes.
On April 1, 2016, a lawsuit was filed against Brixmor Property Group Inc over alleged securities laws violations. The plaintiff claimed that the Defendants made false and/or misleading statements and/or failed to disclose that Brixmor Property Group Inc 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, that Brixmor Property Group Inc lacked adequate internal and financial controls, and 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.
Those who purchased NYSE:BRX shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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