Real Estate Investment Trust, Others To Pay $1B To Settle Securities Law Claims

Mealey's (October 1, 2019, 3:27 PM EDT) -- NEW YORK — Defendants in a securities class action lawsuit against a real estate investment trust, several of its senior executives and directors, its auditor and underwriters of three of its stock offerings will pay a combined $1.025 billion to settle claims that the defendants misrepresented the trust’s business and financial condition in violation of federal securities laws, according to a motion for preliminary approval of settlement and settlement agreement filed in New York federal court on Sept. 30 (In re American Realty Capital Properties Inc. Litigation, No. 15-mc-0040, S.D. N.Y.)....