
Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Seritage Growth Properties regarding a class action lawsuit due to alleged 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 from July 7, 2022, to May 10, 2024, the company failed to disclose that it lacked effective internal controls for identifying impairment indicators for real estate investments [3]. - As a result of these failures, the company is accused of overstating the value and projected gross proceeds of certain real estate assets [3]. - Consequently, the positive statements made by the defendants about the company's business and prospects were materially misleading and lacked a reasonable basis [3]. Group 2: Class Action Details - The deadline for shareholders to register for the class action is August 30, 2024, and there is no cost or obligation to participate [4]. - Shareholders who register will be enrolled in a portfolio monitoring software to receive updates throughout the lifecycle of the case [4]. - The Gross Law Firm aims to protect the rights of investors who have suffered losses due to deceit and illegal business practices [5].