NEW YORK, Dec. 18, 2014 /PRNewswire/ -- AR Capital,
LLC ("AR Capital") today in response to the complaint filed in the
Supreme Court of the State of New
York, issued the following statement:
"AR Capital's principals believe this defamation lawsuit is
without merit. Mr. Schorsch denies the allegations and
intends to defend against the claims vigorously. We are
confident that Mr. Schorsch has engaged in no unlawful conduct. We
note that a lawyer for Ms. McAlister, the plaintiff in this matter,
raised similar allegations in a letter sent to Mr. Schorsch in
November that sought an "opportunity" to "resolve" them. Mr.
Schorsch received the letter on November
14 and immediately arranged for the letter to be forwarded
to the appropriate government authorities. Although the ARCP Audit
Committee investigation is continuing, we understand that to date
there has not been any conclusion of unlawful conduct by Mr.
Schorsch. Both AR Capital and Mr. Schorsch will have no further
comment on the lawsuit at this time."
About AR Capital
Founded in 2006, AR Capital is a full-service investment
management firm providing advisory services to retail and
institutional investors. AR Capital is an active sponsor and
manager of numerous alternative investment programs, including
multiple REITs, open-end mutual funds, a business development
company and a closed–end fund. Additional information can be
found at www.americanrealtycap.com.
Important Notice
The statements in this press release that are not historical
facts may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the
outcome to be materially different. In addition, words such as
"will," "should," "may," "anticipate," "believe," "expect" and
"intend" indicate a forward-looking statement, although not all
forward-looking statements include these words.
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SOURCE AR Capital, LLC