The Gross Law Firm Notifies Shareholders of Seritage Growth Properties(SRG) of a Class Action Lawsuit and an Upcoming Deadline

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Seritage Growth Properties (NYSE: SRG) regarding a class action lawsuit due to allegations of misleading statements and lack of effective internal controls related to real estate investments [1][3]. Group 1: Allegations - The complaint alleges that during the class period, the company lacked effective internal controls for identifying and reviewing impairment indicators for real estate investments [3]. - As a result of these deficiencies, the company overstated the value and projected gross proceeds of certain real estate assets [3]. - Consequently, the defendants' positive statements about the company's business, operations, and prospects were materially misleading and lacked a reasonable basis [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as July 7, 2022, to May 10, 2024 [6]. - Shareholders are encouraged to register for the class action by the deadline of August 30, 2024, to potentially be appointed as lead plaintiffs [4]. - There is no cost or obligation for shareholders to participate in the case, and they will receive status updates through portfolio monitoring software once registered [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered from deceit, fraud, and illegal business practices [5]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that led to artificial inflation of stock prices [5].