SERITAGE INVESTIGATION ALERT: Bragar Eagel & Squire, P.C. is Investigating Seritage Growth Properties on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Core Insights - Bragar Eagel & Squire, P.C. is investigating potential claims against Seritage Growth Properties (NYSE: SRG) on behalf of long-term stockholders following a class action complaint filed on July 1, 2024, concerning breaches of fiduciary duties by the board of directors [1][7] Company Developments - On August 14, 2023, Seritage disclosed a "material weakness" in its internal control over financial reporting, specifically regarding the identification of impairment indicators for real estate investments, leading to a stock price drop of $0.86 (9.67%) to $8.03 per share on August 15, 2023 [7] - On May 10, 2024, Seritage announced an adjustment in pricing projections for its assets, resulting in a gross value reduction of at least $325 million, causing the stock price to fall by $2.54 (27.3%) to $6.78 per share on May 13, 2024 [7] Legal Context - The class action complaint alleges that during the Class Period, Seritage's management made materially false and misleading statements and failed to disclose significant adverse facts about the company's operations and prospects, including ineffective internal controls and overstated asset values [7]