VEREIT, Inc. (NYSE:VER), Formerly (NASDAQ: ARCP), Shareholder Lawsuit Settlement

Our law firm is filing potential claims on behalf of shareholders of American Realty Capital Properties (NASDAQ: ARCP), now known as VEREIT, Inc. (NYSE:VER), over possible violations of US securities laws.

Did you purchase American Realty Capital Properties (NASDAQ: ARCP), now known as VEREIT, Inc. (NYSE:VER) stock between FEBRUARY 28, 2013 AND OCTOBER 29, 2014? If so, you may be entitled to compensation,
Call 1-800-934-2921 or complete the form on this page for a free consultation.

VEREIT, Inc. (NYSE:VER), formerly known as American Realty Capital Properties (NASDAQ: ARCP) will be forced to pay over a $1 billion to settle several class action lawsuits. People allege that the firm had inflated its financial results. Vereit, which used to be called American Realty Capital Properties, will pay $785.5 million. American Realty Capital, which is Schorsch-led, will pay $225 million.

This settlement involves an unusually high payout to affected investors for losses that they suffered as a result of ARCP’s actions.

Grant Thorton, who is the former auditor for American Realty Capital Properties, will pay $49 million. Brian Block, who is the former chief financial officer, will pay $12.5 million. Glenn Rufrano is the CEO of Vereit. He stated that the company is pleased to come to an agreement that will bring the lawsuits to the end.

Glenn also stated that the settlements are in the best interest of the company. Additionally, he stated that the burdens and costs of litigation will be removed by settling the lawsuit. Settling the lawsuits also eliminates the need for a risky trial.

ARCP has over $20 billion in assets. It was once the center of the American Reality Capital empire. ARCP admitted in 2014 that they had committed a $23 million error, which resulted in the lawsuits. This caused the market value of ARCP to drop by $3 billion. In lawsuits, the company had been accused of purposely inflated their financial information.

Settlement of  VEREIT, Inc. (NYSE:VER) Shareholder Lawsuit

VEREIT, Inc. (NYSE:VER), formerly known as American Realty Capital Properties (NASDAQ: ARCP),  investors may be able to collect significant financial compensation for their losses. The recent settlement with the company has set aside hundreds of millions of dollars for compensating shareholders.

Buy shares of ARCP, Now VEREIT, Inc. (NYSE:VER)? American Realty Capital Properties (NASDAQ: ARCP)  Shareholder Lawsuit Settlement. Contact us to protect your rights.

Did you purchase American Realty Capital Properties (NASDAQ: ARCP), now known as VEREIT, Inc. (NYSE:VER) stock between FEBRUARY 28, 2013 AND OCTOBER 29, 2014?, complete the form on this page or call 1-800-934-2921 right now to protect your rights.

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