According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Seritage lacked effective internal controls regarding the identification and review of impairment indicators for investments in real estate;
- as a result, Seritage had overstated the value and projected gross proceeds of certain real estate assets; and
- as a result of the foregoing, defendants’ positive statements about Seritage’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
