SRG - Shareholder Alert: Robbins LLP Informs Stockholders of the Class Action Filed Against Seritage Growth Properties (SRG) | Benzinga

SAN DIEGO, July 02, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Seritage Growth Properties (NYSE:SRG) securities between July 7, 2022 and May 10, 2024.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Seritage Growth Properties (SRG) Misled Investors Regarding its Business Prospects

Plaintiff alleges that on August 14, 2023, after the market closed, Seritage revealed that there was a "material weakness" in the Company's internal control over financial reporting "due to a deficiency in the design of our control over the identification of impairment indicators for investments in real estate and documentation of evidence of review." Moreover, the deficiency related "to the failure to identify potential indicators of impairment related to development projects in a timely manner." On this news, Seritage's stock price fell $0.86, or 9.67%, ...

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