BEVERLY HILLS, Calif., Nov. 3, 2014 (GLOBE NEWSWIRE) -- Stull, Stull & Brody today filed a class action lawsuit on behalf of purchasers of common stock and/or call options of American Realty Capital Properties, Inc. (Nasdaq:ARCP) between February 27, 2014 through October 28, 2014, both dates inclusive (the "Class"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission ("SEC"). In addition, if you purchased ARCP shares in any public offering of ARCP during the Class Period or earlier you may also be eligible to participate in this lawsuit.
If you are a member of the Class described above, you may, no later than December 29, 2014, move the Court to serve as lead plaintiff, if you so choose. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. In order to serve as lead plaintiff you must meet certain legal requirements.
Plaintiff seeks to recover damages on behalf of Class members and is represented by the law firm of Stull, Stull & Brody, which has significant experience and expertise in prosecuting class actions on behalf of investors and shareholders.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial results, including ARCP's adjusted funds from operations ("AFFO"), resulting in overstatement of AFFO in ARCP's financial statements. Plaintiff alleges that as a result of defendants' materially false and misleading statements ARCP securities traded at artificially inflated prices during the Class Period.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that a class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Beverly Hills.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Jason D'Agnenica or Howard Longman at 1-800-337-4983 or via e-mail at arcp@ssbny.com. You can also visit our website at www.ssbny.com.