LOS ANGELES, July 11, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Seritage Growth Properties ("Seritage" or the "Company") (NYSE: SRG). Class Period: July 7, 2022 – May 10, 2024 Lead Plaintiff Deadline: August 30, 2024 If you are a shareholder who suffered a loss, click here to participate. The complaint filed alleges that, throughout the Class Period, Defendants failed to di ...

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Seritage Growth Properties (NYSE: SRG) between July 7, 2022 and May 10, 2024 both dates inclusive (the "Class Period"), of the important August 30, 2024 lead plaintiff deadline. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Seritage lacked effective i ...

NEW YORK, July 10, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Seritage Growth Properties ("Seritage" or the "Company") (NYSE: SRG) of a class action securities lawsuit. https://zlk.com/pslra-1/seritage-lawsuit-submission-form?prid=89875&wire=3 CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company lacked effective internal controls regarding the identification and review of impairment indicators for investments in real ...

SAN DIEGO, July 10, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Seritage Growth Properties (NYSE: SRG) securities between July 7, 2022 and May 10, 2024. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Seritage Growth Properties (SRG) Misled Investors Regarding its Bus ...

NEW ORLEANS, July 09, 2024 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 30, 2024 to file lead plaintiff applications in a securities class action lawsuit against Seritage Growth Properties ("Seritage" or the "Company") (NYSE: SRG), if they purchased the Company's securities between July 7, 2022 and May 10, 2024, inclusive (the "Class Period"). This action is pending in the United S ...

Shareholders who purchased shares of SRG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Seritage Growth Properties (NYSE: SRG). CONTACT US HERE: https://securitiesclasslaw.com/securities/seritage-loss-submission-form/?id=89673&from=3 ALLEGATIONS: The complaint a ...

BENSALEM, Pa., July 08, 2024 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the upcoming August 30, 2024 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Seritage Growth Properties ("Seritage" or the "Company") (NYSE: SRG) securities between July 7, 2022 and May 10, 2024, inclusive (the "Class Period"). On August 14, 2023, after the market closed, Seritage revealed that there was a "material weakness" in the Company's internal control o ...

NEW YORK, July 8, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Seritage Growth Properties ("Seritage" or the "Company") (NYSE: SRG) of a class action securities lawsuit. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: ...

Core Viewpoint - Seritage Growth Properties disclosed a "material weakness" in its internal control over financial reporting, specifically regarding the identification of impairment indicators for real estate investments, leading to significant adjustments in asset valuations [1][10]. Financial Performance - On May 10, 2024, Seritage announced a reduction in the gross value of its asset portfolio by at least $325 million due to adjusted pricing projections [5]. - Following the announcement of the material weakness, Seritage's stock price fell by $2.54, or 27.3%, closing at $6.78 per share on May 13, 2024 [2]. - The stock also experienced a decline of $0.86, or 9.67%, closing at $8.03 per share on August 15, 2023, after the initial disclosure of the internal control issues [9]. Legal Actions - A class action lawsuit has been filed against Seritage in the United States District Court of the Southern District of New York, representing all individuals and entities who purchased Seritage securities between July 7, 2022, and May 10, 2024 [8]. - Investors have until August 30, 2024, to apply to be appointed as lead plaintiff in the lawsuit [8]. Allegations - The class action complaint alleges that Seritage made materially false and misleading statements and failed to disclose adverse facts about its business operations and prospects, including ineffective internal controls and overstated asset values [10].

On August 14, 2023, after the market closed, Seritage revealed that there was a "material weakness" in the Company's internal control over financial reporting "due to a deficiency in the design of our control over the identification of impairment indicators for investments in real estate and documentation of evidence of review." Moreover, the deficiency related "to the failure to identify potential indicators of impairment related to development projects in a timely manner." On this news, Seritage's stock p ...