BRIXMOR INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Brixmor Property Gr...
February 12 2016 - 10:00PM
Business Wire
Former Attorney General of Louisiana, Charles C. Foti, Jr.,
Esq., a partner at the law firm of Kahn Swick & Foti, LLC
(“KSF”), announces that KSF has commenced an investigation into
Brixmor Property Group Inc. (NYSE: BRX).
On February 8, 2016, Brixmor announced that its Chief Executive
Officer, Chief Financial Officer, Chief Accounting Officer, and an
unnamed accounting employee had resigned after an internal
accounting review by the Company’s Audit Committee showed
discrepancies in the Company’s financial statements. The Company
stated that “specific company accounting and financial reporting
personnel, in certain instances, were smoothing income items, both
up and down, between reporting periods in an effort to achieve
consistent” net operating income results.
On this news, the price of Brixmor’s shares plummeted by over
20% and it was downgraded by multiple analysts.
KSF’s investigation is focusing on whether Brixmor and/or its
officers and directors violated state or federal securities
laws.
If you are a Brixmor shareholder and have suffered losses, you
may, without obligation or cost to you, call toll-free at
1-877-515-1850 or email KSF Managing Partner Lewis Kahn
(lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a law firm focused on securities,
antitrust and consumer class actions, along with merger &
acquisition and breach of fiduciary litigation against publicly
traded companies on behalf of shareholders. The firm has offices in
New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160212005946/en/
Kahn Swick & Foti, LLCLewis Kahn, 1-877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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