BRIXMOR INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL Kahn Swick & Foti, LLC Investigates Brixmor Property Group Inc. for Possible Securities Fraud
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 (firstname.lastname@example.org).
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.