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Scott + Scott, Attorneys at Law, LLP Reminds Investors of Upcoming Deadline to File Lead Plaintiff Papers in Brixmor Property Group, Inc. (BRX) Securities Cases

NEW YORK, May 27, 2016 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a global investor rights law firm, reminds investors that May 31, 2016 is the last day to file lead plaintiff papers in the securities lawsuit against Brixmor Property Group, Inc. (NYSE:BRX) (“Brixmor” or “Company”) and certain of its directors (collectively, “Defendants”).  Brixmor investors are encouraged to contact Scott+Scott at (800) 404-7770 or email scottcases@scott-scott.com to discuss their legal rights.

About the Lawsuit

On February 8, 2016, Brixmor disclosed 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.  This news came after an audit committee uncovered that employees had been “smoothing” income in order to make the quarterly net operating income steadier.  On this news, shares of Brixmor fell over $5 per share, or nearly 20%, during intraday trading on February 8, 2016.

The Complaint alleges that, throughout the Class Period (October 27, 2014 – February 5, 2016, inclusive), 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) 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.

What You Can Do

If you purchased shares of Brixmor, you may have legal claims against the Company.  If you want to discuss filing lead plaintiff papers or have questions about your legal rights, please contact by telephone at (800) 404-7770, or by email at scottcases@scott-scott.com or mburnett@scott-scott.com.

About Scott + Scott, Attorneys at Law, LLP

Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States.  The firm has offices in New York, London, Connecticut, California, and Ohio.  Please visit www.scott-scott.com for more information about the firm.

 

CONTACT:
Michael Burnett
Scott+Scott, Attorneys at Law, LLP
(800) 404-7770
(860) 537-5537
scottcases@scott-scott.com, or
mburnett@scott-scott.com