SERITAGE GROWTH SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Seritage Growth Properties – SRG

Quick Summary:

NEW ORLEANS, July 24, 2024 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 30, 2024 to file lead plaintiff applications in a securities class action lawsuit against Seritage Growth Properties ("Seritage” or the "Company”) (NYSE: SRG), if they purchased the Company’s securities between July 7, 2022 and May 10, 2024, inclusive (the "Class Period”).

On August 14, 2023, the Company disclosed a "material weakness” in its 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” related "to the failure to identify potential indicators of impairment related to development projects in a timely manner.” On this news, the price of Seritage’s shares fell $0.86, or 9.67%, to close at $8.03 per share on August 15, 2023, on unusually heavy trading volume.

Then, on May 10, 2024, the Company released its 1Q2024 financial results, disclosing that it was "adjusting [its] pricing projections for some of [its] assets” resulting in the gross value of the Company’s portfolio of assets being reduced by at least $325 million.

Read Quick SummarySave Time

or

Article Details

Author / Journalist: SkyMedia, LLC

Category: Technology

Markets: ChinaUnited States

Topics: Class Financial Investors 2024 August Securities Action Claimsfiler Free Information Seritage

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 02:19:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 399 words

Reading Time: 3 minutes read

Sentences: 10 lines

Sentence Length: 40 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 21784306

View Article Analysis

About GlobeNewswire

Main Topics: Technology

Official Website: globenewswire.com

Year Established: 1998

Headquarters: China

News Last Updated: 1 days ago

Coverage Areas: China

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #116

Publisher Details

Frequently Asked Questions