Brixmor Property Group, Inc. Securities Litigation
On or around 12/29/2017 (Other)
Filing Date: March 31, 2016
According to the law firm press release, Brixmor is a publicly-traded real estate investment trust ("REIT") that operates a wholly-owned portfolio of grocery-anchored shopping centers, with 518 properties from California to Maine. The Company is incorporated in Maryland and maintains its principal executive offices in New York, NY.
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 November 29, 2016, the Court appointed Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on February 16, 2017.
The parties entered into a Stipulation of Settlement on July 27, 2017. Preliminary approval was granted on July 31. On December 13, the Court granted final approval of the settlement and entered Final Judgment.
Company & Securities Information
Defendant: Brixmor Property Group, Inc.
Industry: Real Estate Operations
Headquarters: United States
Ticker Symbol: BRX
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Westchester Putnam Counties Heavy and Highway Laborers Local 60 Benefit Funds, et al. v. Brixmor Property Group, Inc., et al.