NEW YORK, Oct. 31, 2014 /PRNewswire/ -- Harwood Feffer
LLP (www.hfesq.com) is investigating potential claims against the
board of directors of American Realty Capital Properties, Inc.
("ARCP" or the "Company") (NASDAQ: ARCP), concerning whether the
board has breached its fiduciary duties to shareholders.
On October 29, 2014, ARCP
disclosed that its Audit Committee had determined that a previously
identified error in accounting for adjusted funds from operations
had been intentionally not corrected. According to the
disclosure, other financial statement errors were also
intentionally made. The Company stated that its Form 10-K for
the 2013 fiscal year and the Forms 10-Q from the first two fiscal
quarters of 2014 should no longer be relied on. It is
reported that the Securities and Exchange Commission intends to
launch an inquiry into these issues.
Our investigation concerns whether the Company board of
directors has breached its fiduciary duties to shareholders,
grossly mismanaged the Company, and/or committed abuses of control
in connection with the foregoing.
If you own ARCP shares and wish to discuss this matter with us,
or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the
firm.
The law firm responsible for this advertisement is Harwood
Feffer LLP (www.hfesq.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
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SOURCE Harwood Feffer LLP