WAYNE, Pa., Feb. 10, 2016 /PRNewswire/ -- Ryan &
Maniskas, LLP has commenced an investigation into potential
securities law violations by certain officers of Brixmor Property
Group Inc. ("Brixmor" or the "Company") (NYSE: BRX).
Brixmor shareholders who purchased shares should contact
Richard A. Maniskas, Esquire at
877-316-3218 or at rmaniskas@rmclasslaw.com to learn more about
this investigation or visit:
www.rmclasslaw.com/cases/brx.
The investigation concerns whether Brixmor and certain of its
officers have breached their fiduciary duties to the Company.
On February 8, 2016, pre-market,
Brixmor announced the resignations of several key executives: Chief
Executive Officer Michael Carroll,
President and Chief Financial Officer Michael Pappagallo, and Chief Accounting Officer
Steven Splain. The resignations were
effective immediately and follow an unfavorable audit committee
review of the company's non-GAAP reporting measure. The audit
committee review led the board to conclude that specific accounting
and financial reporting personnel were "smoothing income items,
both up and down," to show consistent quarterly same property net
operating income growth. According to the Company, the review led
to changes in same-property net operating income in quarters dating
back to 2013. The changes amounted to $500,000.00 for 2014 and $300,000.00 for 2015.
On this news, Brixmor stock fell $5.32 per share, or over 20%, to close at
$21.10 per share on February 8, 2016.
If you own Brixmor shares and would like to learn more about
these claims or if you wish to discuss these matters and have any
questions concerning this announcement or your rights, contact
Richard A. Maniskas, Esquire
toll-free: (877) 316-3218 or visit:
www.rmclasslaw.com/cases/brx. You may also email Mr.
Maniskas at rmaniskas@rmclasslaw.com. For more information
about class action cases in general, please visit our website:
www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old
Eagle School Rd., Suite 311
Wayne, PA
19087
877-316-3218
rmaniskas@rmclasslaw.com
www.rmclasslaw.com/cases/brx
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SOURCE Ryan & Maniskas, LLP