In Wake of Federal Criminal Probe, Schubert Firm Investigates American Realty Capital Properties' Top Executives

SAN FRANCISCO, Nov. 3, 2014 /PRNewswire/ -- In the wake of a reported federal criminal investigation into American Realty Capital Properties' accounting practices, Schubert Jonckheer & Kolbe LLP today launched an investigation into the company's top executives for possible misconduct.

According to Reuters, the FBI, in conjunction with the U.S. Attorney's Office in New York, has opened a criminal probe into the company after American Realty disclosed that it had uncovered accounting errors and restated earnings. Both its chief executive officer and chief financial officer have resigned in the wake of the scandal.

Since the company's disclosure last Wednesday, its stock price has fallen nearly 30%, wiping out approximately $4 billion in market value. On October 29, 2014 alone, ARCP stock dropped 19%.

The Schubert firm's new investigation focuses on possible misconduct by the company's top executives, specifically its officers and directors, including claims that they may have breached their fiduciary duties to the company in connection with federal securities laws.

The accounting irregularities were disclosed when American Realty's Audit Committee determined that an error in accounting for adjusted funds from operations had previously been identified within the company but was intentionally not corrected, as well as other intentional accounting errors.

ARCP shareholders may have the option to pursue a shareholder derivative action through which shareholders may hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company.

If you currently own American Realty stock and wish to obtain additional information about the investigation and your legal rights, please contact Dustin Schubert either via email at [email protected] or by telephone at (415) 788-4220, or fill out the form on our website at http://classactionlawyers.com/ARCP

About Schubert Jonckheer & Kolbe
Schubert Jonckheer & Kolbe has extensive experience in prosecuting securities claims, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact
Schubert Jonckheer & Kolbe LLP
Dustin L. Schubert, Esq.
3 Embarcadero Center, Suite 1650
San Francisco, CA 94111
Tel: (415) 788-4220

http://www.classactionlawyers.com

SOURCE Schubert Jonckheer & Kolbe LLP

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