SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

October 31, 2014 20:38 ET

INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In American Realty Capital Properties, Inc. (ARCP) To Contact The Firm

NEW YORK, NY--(Marketwired - October 31, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in American Realty Capital Properties, Inc. ("ARCP" or the "Company") (NASDAQ: ARCP) of the December 29, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against ARCP and certain officers.

A complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased ACRP common stock from May 6, 2013 through October 29, 2014 (the "Class Period").

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that during the Class Period, ARCP issued false and misleading statements that (i) incorrectly included certain amounts related to its non-controlling interests in the calculation of adjusted funds from operations ("AFFO"), leading to an overstatement of AFFO; and (ii) inappropriately accounted for certain accruals and expenses which artificially inflated ARCP's earnings per share.

On October 29, 2014, ARCP announced that the Company's earnings releases and other financial communications for the fiscal year ended December 31, 2013 and the fiscal periods ended March 31, 2014 and June 30, 2014 should no longer be relied upon due to "accounting issues," specifically disclosing reductions in AFFO due to an error "identified but intentionally not corrected[.]"

Following this news, the price of the Company's stock declined by $2.38 per share, or nearly 19%, to close on October 29, 2014 at $10.00 per share.

Request more information now by clicking here: www.faruqilaw.com/ARCP. There is no cost or obligation to you.

Take Action

If you invested in ARCP stock, bonds or options between May 6, 2013 to October 29, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/ARCP. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ARCP's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    rgonnello@faruqilaw.com
    Telephone: (877) 247-4292 or (212) 983-9330