SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

December 01, 2014 12:29 ET

SHAREHOLDER ALERT: LEVI & KORSINSKY, LLP Reminds Investors of Class Action Against American Realty Capital Properties, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of December 29, 2014 -- ARCP

NEW YORK, NY--(Marketwired - Dec 1, 2014) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased American Realty Capital Properties, Inc. ("American Realty" or the "Company") (NASDAQ: ARCP) securities between May 6, 2013 and October 29, 2014.

For more information, click here: http://zlk.9nl.com/american-realty-capital-arcp.

The complaint alleges that the Company misled investors by, among other allegations, overstating calculations of adjusted funds from operations in filings with the U.S. Securities & Exchange Commission.

On October 29, 2014, American Realty announced that its Audit Committee has determined that certain of the Company's financial statements are not to be relied upon. In particular, the Audit Committee has noted that the Company incorrectly included certain amounts related to its non-controlling interests in its calculation of adjusted funds from operations ("AFFO") for the three months ended March 31, 2014, and that they believe this error was "identified but intentionally not corrected, and other AFFO and financial statement errors were intentionally made." The Company's Chief Financial Officer, Brian Block, has resigned.

If you suffered a loss in American Realty you have until December 29, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/american-realty-capital-arcp

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (866) 367-6510
    www.zlk.com