SEC Drops Securities Fraud Suit Against Ex-Brixmor Execs

Law360 (July 21, 2021, 9:39 PM EDT) -- The U.S. Securities and Exchange Commission has dropped an accounting fraud suit against two executives of real estate investment trust Brixmor Property Group, months after federal prosecutors dismissed a parallel criminal case against the two men.

In a single-page motion filed Monday, the SEC voluntarily dismissed with prejudice its claims against former Brixmor CEO Michael A. Carroll and former Chief Financial Officer Michael V. Pappagallo. U.S. District Judge Analisa Torres signed off on the dismissals the same day.

Greg Kehoe, an attorney representing Pappagallo, told Law360 in an emailed statement on Wednesday that "Mr. Pappagallo denied any wrongdoing and is pleased...

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