Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Brixmor Property Group, Inc. to Contact Brower Piven Before the Lead Plaintiff Deadline in Class Action Lawsuit – BRX

STEVENSON, Md., April 05, 2016 -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Brixmor Property Group, Inc. (NYSE:BRX) (“Brixmor” or the “Company”) securities during the period between October 27, 2014 and February 5, 2016, inclusive (the “Class Period”).  Investors with losses in excess of $100,000 who wish to become proactively involved in the litigation have until May 31, 2016 to seek appointment as lead plaintiff.

Brixmor is a publicly-traded real estate investment trust (“REIT”) that operates a wholly-owned portfolio of grocery-anchored shopping centers, with 518 properties from California to Maine.  The Company is incorporated in Maryland and maintains its principal executive offices in New York.  Brower Piven is the only firm headquartered in Maryland that has a practice dedicated primarily to shareholder class action litigation.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court.  The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company’s securities during the Class Period.  Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.  No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that 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 net operating income (“NOI”) growth and that the Company lacked adequate internal and financial controls.

According to the complaint, following the Company’s February 8, 2016 disclosure that it had engaged in a fraudulent scheme to “smooth” its NOI numbers, the value of Brixmor’s shares declined significantly. 

If you have suffered a loss from investment in Brixmor securities purchased on or after October 27, 2014 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.  You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.  Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
[email protected]