Purchasers Or Acquirers of American Realty Capital Properties, Inc. Common Stock Shares May Be Entitled To Payment From An SEC Fair Fund
ALEXANDRIA, Va., July 27, 2021 /PRNewswire/ -- The following statement is being issued regarding the AR Capital, LLC Fair Fund:
UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK
SECURITIES AND EXCHANGE Plaintiff, v. AR CAPITAL, LLC, NICHOLAS S. SCHORSCH and BRIAN S. BLOCK, Defendants. |
19 Civ. 6603 (AT) ECF Case |
AR CAPITAL, LLC FAIR FUND DISTRIBUTION PLAN NOTICE
The United States Securities and Exchange Commission authorized this Notice.
This is not a solicitation from a lawyer.
Who is Eligible to Participate in the Fair Fund?
If you purchased or otherwise acquired American Realty Capital Properties, Inc. ("ARCP") common stock on or after February 28, 2013, including in the American Realty Capital Trust III, Inc. ("T3") merger, and held such shares at the close of trading on October 28, 2014, you may be eligible for compensation for harm to investors caused by Defendants' violations of the federal securities laws by making material misstatements and omissions and engaging in other improper conduct in connection with two mergers in 2013 and 2014 involving American Realty Capital Properties, Inc. ("ARCP") (now known as VEREIT, Inc.) and improperly obtained millions of dollars from their violations.
If you filed a claim in the In re American Realty Capital Properties, Inc. Litigation, Civil Action No. 1:15-mc-00040-AKH in the United States District Court, Southern District of New York (the "Class Action"), you will receive a postcard notifying you that you do not need to file a new claim in this matter. The information contained in your Class Action claim will be used to evaluate your eligibility in this SEC matter. If you have not received a postcard or have any questions about whether or not you filed a claim in the Class Action, please email [email protected].
The administration of the Fair Fund is governed by a Distribution Plan ("Plan") approved by the Court on May 18, 2021. A copy of the Plan, which contains a description of eligibility and other conditions of participation, can be found at www.ARCapitalFairFund.com. Pursuant to the Plan, you may be entitled to receive a monetary payment from the Fair Fund.
Determination of Recognized Claims
The amount of compensation shall be determined in accordance with the Plan of Allocation included in Appendix 1 to the Plan. The amount of compensation will be based on the number of shares of ARCP common stock purchased or otherwise acquired by an Eligible Claimant on or after February 28, 2013, including in the T3 merger, and held at the close of trading on October 28, 2014. The Distribution Payment for Eligible Claimants will be calculated in a pro rata fashion: the Net Available Fair Fund multiplied by the ratio of the Eligible Claimant's Eligible Shares to the sum of the Eligible Shares of all Eligible Claimants. No Eligible Claimant shall receive a distribution payment unless the preliminary calculation is equal to or greater than $10.00. Appendix 1 to the Distribution Plan is posted on the Fair Fund website at www.ARCapitalFairFund.com.
How to Participate
If you believe you are a Potentially Eligible Claimant and would like to participate, you must file your Proof of Claim Form online at www.ARCapitalFairFund.com, or contact the Distribution Agent to request a Proof of Claim Form be mailed to you, unless you received a Class Action Claimant Postcard notifying you that you do not need to file a new claim in this matter. Follow the instructions provided with the Proof of Claim Form and fill out the Proof of Claim Form completely, sign it, include copies of all required supporting documentation, and return it to the Distribution Agent's address listed below.
Claim Filing Deadline
Submit a Claim November 15, 2021
More Information
Website www.ARCapitalFairFund.com
Email [email protected]
Phone 1-866-727-6411
Write AR Capital Fair Fund
c/o KCC Class Action Services
Distribution Agent
P.O. Box 43138
Providence, RI 02940-3141
Questions?
This Notice provides only summary information regarding the Fair Fund. We strongly recommend that you read the Distribution Plan, including the Plan of Allocation, and other relevant case documents in their entirety for more complete details. The documents can be found at www.ARCapitalFairFund.com.
If you need assistance completing the Proof of Claim Form or if you have any questions about this Fair Fund, you may obtain more information by visiting the Fair Fund website at www.ARCapitalFairFund.com, by calling the dedicated toll-free number at 1-866-727-6411 or sending an email inquiry to [email protected].
SOURCE: AR Capital Fair Fund
SOURCE AR Capital, LLC Fair Fund
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