The Gross Law Firm Announces the Filing of a Securities Class Action on Behalf of Seritage Growth Properties(SRG) Shareholders

Core Viewpoint - The Gross Law Firm has announced a class action lawsuit against Seritage Growth Properties (NYSE: SRG) due to allegations of misleading statements and lack of effective internal controls regarding real estate investments [4][5]. Group 1: Class Action Details - The class period for the lawsuit is from July 7, 2022, to May 10, 2024 [3]. - Shareholders who purchased shares during this period are encouraged to register for the class action and will be enrolled in a portfolio monitoring software for updates [3]. - The deadline for shareholders to seek lead plaintiff status is August 30, 2024 [3]. Group 2: Allegations Against the Company - The complaint alleges that the company lacked effective internal controls for identifying and reviewing impairment indicators for real estate investments [5]. - As a result of these deficiencies, the company is accused of overstating the value and projected gross proceeds of certain real estate assets [5]. - The positive statements made by the defendants regarding the company's business and prospects are claimed to be materially misleading and lacking a reasonable basis [5].