WAYNE, Pa., Oct. 29, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP has commenced an investigation into potential securities law violations by certain officers of American Realty Capital Properties, Inc. ("American Realty" or the "Company") (NASDAQ: ARCP).
American Realty shareholders who purchased Willbros shares should contact Richard A. Maniskas, Esquire at 877-316-3218 or at [email protected] to learn more about this investigation or visit: www.rmclasslaw.com/cases/arcp.
On October 29, 2014, the Company has announced that the previously issued financial statements and other financial information contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and Quarterly Reports on Form 10-Q for the fiscal periods ended March 31, 2014 and June 30, 2014, and the Company's earnings releases and other financial communications for these periods, should no longer be relied upon. In addition, American Realty announced that Brian Block, Chief Financial Officer ("CFO") of the Company, had resigned, being replaced by Michael Sodo.
Additionally, American Realty's Chief Accounting Officer Lisa McAlister also resigned, effective immediately, to be replaced by Gavin Brandon. The resignations and announcements regarding the uncertainty of the Company's financial statements stemmed from an investigation of the Audit Committee of the Board of Directors. According to the Company's press release, the "Audit Committee believes that this error was identified but intentionally not corrected, and … were intentionally made.…"
As a result of this, American Realty shares have plummeted.
If you own American Realty shares and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/arcp. You may also email Mr. Maniskas at [email protected]. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
877-316-3218
[email protected]
www.rmclasslaw.com/cases/arcp
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SOURCE Ryan & Maniskas, LLP
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