Law Offices of Howard G. Smith announces an investigation on behalf of Seritage Growth Properties (“Seritage” or the “Company”) (NYSE: SRG) investors concerning the Company’s possible violations of federal securities laws.
On May 10, 2024, Seritage released its first quarter 2024 financial results, revealing total net operating income of $2.1 million, down from $8.6 million in the prior quarter. Additionally, the Company disclosed that it was “adjusting [its] pricing projections for some of [its] assets," and issued a significant downwards revision to its asset valuations for future sales projections.
On this news, Seritage’s stock price fell $2.54, or 27.3%, to close at $6.78 per share on May 13, 2024, thereby injuring investors.
If you purchased Seritage 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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