Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Brixmor Property Group (NYSE: BRX) investors concerning whether the company’s officers and board of directors violated the federal securities laws.
On February 8, 2016, pre-market, Brixmor announced the resignations of Chief Executive Officer Michael Carroll, President and Chief Financial Officer Michael Pappagallo, and Chief Accounting Officer Steven Splain, effective immediately. The resignations follow an unfavorable audit committee review of the company’s non-GAAP reporting measures, which led the board to conclude that specific accounting and financial reporting personnel were “smoothing income items, both up and down,” to show consistent quarterly same property net operating income growth.
Following this news, Brixmor stock fell $5.32 per share, or over 20%, to close at $21.10 on February 8, 2016.
If you purchased Brixmor securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact J. Brandon Walker, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160212005914/en/
Contacts:
J. Brandon Walker, Esq.,
212-355-4648
investigations@bespc.com
