Scott
+ Scott, Attorneys at Law, LLP, a global investor rights law firm,
is investigating Brixmor Property Group Inc. (“Brixmore” or the
“Company”) (NYSE: BRX) for possible securities fraud after an
audit committee uncovered that employees had been “smoothing” income in
order make quarterly net operating income more steady.
What You Can Do
The firm recommends that investors get the “Investors Guide to
Securities Litigation,” which you can obtain free of charge at http://www.scott-scott.com/contact.htm
To join the action, go to: Join
Action. You can also call Joseph Halloran, Esq. at (646) 582-0121 or
email scottlaw@scott-scott.com
for information.
About the Investigation
On February 8, 2016, Brixmor announced the resignations of the Company's
Chief Executive Officer, Michael Carroll, the President and Chief
Financial Officer, Michael Pappagallo, and the Chief Accounting Officer,
Steven Splain. These resignations follow an audit committee review of
the Company’s non-GAAP reporting measure. The board concluded after this
audit that specific accounting and financial reporting personnel were
"smoothing income items, both up and down," to show steady and
dependable quarterly same property net operating income growth.
On this news, shares of Brixmor fell over $5 per share, or nearly 20%.
Scott + Scott, Attorneys at Law, LLP has significant experience in
prosecuting major securities, antitrust, and employee retirement plan
actions throughout the United States.
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