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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of December 12, 2017 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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July 31, 2017 - The court preliminarily approved the settlement.
July 28, 2017 - A stipulation of settlement was filed by the parties.
February 16, 2017 - An amended complaint was filed.
March 31, 2016 - An investor in shares of Brixmor Property Group Inc (NYSE: BRX) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Brixmor Property Group Inc in connection with certain allegedly false and misleading statements made between October 27, 2014 and February 5, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of Brixmor Property Group Inc (NYSE: BRX) common shares between October 27, 2014 and February 5, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 27, 2014 and February 5, 2016 the defendants made false and/or misleading statements and/or failed to disclose that Brixmor Property Group Inc and its senior executives purposefully misrepresented Brixmor Property Group Inc's financial results by manipulating income items for nine quarters in order to achieve consistent quarterly same property NOI growth, that Brixmor Property Group Inc lacked adequate internal and financial controls, and that, as a result of the foregoing, defendants' statements about Brixmor Property Group Inc's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On February 8, 2016, Brixmor Property Group Inc announced that its Chief Executive Officer Michael Carroll, President and Chief Financial Officer Michael Pappagallo, Chief Accounting Officer Steven Splain, and an accounting employee resigned, effective immediately. Brixmor Property Group Inc said that these management changes follow the completion of an Audit Committee review that began after the Company received information in late December 2015 through its established compliance processes. Shares of Brixmor Property Group Inc (NYSE: BRX) dropped from $26.42 per share on February 5, 2016 to as low as $19.91 per share on February 8, 2016.