According to InvestmentNews, American Realty Capital Properties (ARCP) will be allowed more time to review inaccurate financial statements and dividends will not be paid to investors until the review is complete. The company plans to review its dividend policy to determine a payment that’s “in line with its industry peers.” In addition, the company will reportedly evaluate its capital structure of allocation of capital.
ARCP is a real estate investment trust (REIT) and the largest U.S. owner of single-tenant buildings. InvestmentNews reports that ARCP shares were down to $8.05 in mid-morning trading Wednesday and have lost 35% since the deliberately hidden accounting error in October.
The foregoing information, which is all publicly available on Investment News’ website, is being provided by The White Law Group.
The White Law Group continues to investigate potential claims involving non-traded REITs. The problems we see involving non-traded REITs generally relates to the financial advisor’s failure to adequately disclose the risks and illiquidity of these investments.
If you suffered losses investing in a non-traded REIT and would like to discuss discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.