SRG SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Seritage Growth Properties Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit!

Core Viewpoint - A class action lawsuit has been filed against Seritage Growth Properties and certain officers for alleged violations of federal securities laws, focusing on misleading statements regarding the company's internal controls and asset valuations [1][3]. Group 1: Class Definition - The lawsuit seeks damages for all individuals and entities that purchased or acquired Seritage securities between July 7, 2022, and May 10, 2024, known as the "Class Period" [2]. Group 2: Case Details - The complaint alleges that the defendants made false statements and concealed the following: 1. The company lacked effective internal controls for identifying and reviewing impairment indicators for real estate investments 2. Consequently, the company overstated the value and projected gross proceeds of certain real estate assets 3. As a result, the defendants' positive statements about the company's business and prospects were materially misleading [3]. Group 3: Next Steps - A class action lawsuit has been filed, and investors who suffered losses in Seritage have until August 30, 2024, to request appointment as lead plaintiff, although sharing in any recovery does not require serving as lead plaintiff [4]. Group 4: Legal Representation - The law firm representing the investors operates on a contingency fee basis, meaning they will only seek reimbursement for expenses and attorneys' fees if successful in the case [5]. Group 5: Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm specializing in securities fraud class actions and has recovered hundreds of millions of dollars for investors [6].