The Law Offices of Frank R. Cruz Announces Investigation of Seritage Growth Properties (SRG) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Seritage Growth Properties (“Seritage” or the “Company”) (NYSE: SRG) on behalf of investors concerning the Company’s possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

On May 10, 2024, Seritage released its first quarter 2024 financial results, revealing total net operating income of $2.1 million, down from $8.6 million in the prior quarter. Additionally, the Company disclosed that it was “adjusting [its] pricing projections for some of [its] assets," and issued a significant downwards revision to its asset valuations for future sales projections.

On this news, Seritage’s stock price fell $2.54, or 27.3%, to close at $6.78 per share on May 13, 2024, thereby injuring investors.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Seritage securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.