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Thursday, December 18, 2014 2:56:53 PM
American Realty Capital follow up to potential altered financial data as directed by former Chairman (7.94 -0.47)
WSJ Article (related stocks: RCAP, ARCPP)
For some background: On October 29th, ARCP announced the conclusion of its Audit Committee that the previously issued financial statements and other financial information contained in the co's Annual Report for the fiscal year ended December 31, 2013 and Quarterly Reports should no longer be relied upon. On November 3rd, RCAP announced that it has terminated the previously disclosed definitive agreement to acquire Cole Capital Partners, LLC and Cole Capital Advisors from ARCP. On November 5th, RCAP commented on recent share price movement; RCAP reiterated that RCAP and ARCP are two separate and independent public corporations.
Since Oct 29th, RCAP is lower by 49%, while ARCP is lower by -36%
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