NEW YORK, May 16, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Seritage Growth Properties (“Seritage” or the “Company”) (NYSE: SRG). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Seritage and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 10, 2024, Seritage reported its operating results for the first quarter of 2024. Among other items, Seritage reported a net loss of $0.36 per share, citing “lower evaluations” as a consequence, in part, of “interest rates and inflation”.
On this news, Seritage’s stock price fell $2.54 per share, or 27.25%, to close at $6.78 per share on May 13, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT: Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP