VEREIT, Inc. (ARCP) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

View amendments to this 10-K report filed on 4/30/2015
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Exhibit 99.1

 

LOGO  

FOR IMMEDIATE RELEASE

American Realty Capital Properties Restates Financial Reports for FY2013 and

First Two Quarters of 2014

No Material Changes Relating to Real Estate Ownership, Rental Revenue or

Fundamental Business Operations

No Changes to the Financial Statements or Operations of the Cole Capital® Sponsored Non-Traded REITs

The Company Has Filed its Quarterly Report on Form 10-Q for Q3 2014 and Anticipates Filing its Annual

Report on Form 10-K for FY2014 on or prior to March 31, 2015

Phoenix, AZ, March 2, 2015 — American Realty Capital Properties, Inc. (“ARCP” or the “Company”) (NASDAQ: ARCP) announced today the completion of its restatement and filing of amendments to its 2013 Annual Report on Form 10-K and first and second quarter 2014 Quarterly Reports on Form 10-Q. Additionally, ARC Properties Operating Partnership, L.P. (the “Operating Partnership”) has restated its previously issued financial statements. Furthermore, both the Company and the Operating Partnership have filed their Quarterly Reports on Form 10-Q for the third quarter of 2014.

As previously announced, the Audit Committee of ARCP’s Board of Directors (the “Audit Committee”), with the assistance of its independent advisors Weil, Gotshal & Manges LLP and Ernst & Young LLP, conducted a thorough and independent investigation into accounting concerns and other matters brought to the Audit Committee’s attention in September 2014.

Notably, the Audit Committee’s investigation did not identify any material changes relating to ARCP’s real estate ownership, rental revenue or fundamental business operations. Additionally, the Audit Committee investigation did not identify any changes to the financial statements or operations of the Cole Capital-sponsored non-traded REITs, nor did the matters reviewed by the Audit Committee relate to the operations of these REITs.


The following information was filed by VEREIT, Inc. on Monday, March 2, 2015 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K statement of earnings and operation as management may choose to highlight particular information in the press release.
  • Form Type: Annual
  • Number of times amended: 1
  • Accession Number: 0001507385-15-000030
  • Submitted to the SEC: Monday, March 30, 2015
  • Accepted by the SEC: Monday, March 30, 2015
  • Period Ending: December 2014
Companies
 

ARCP

VEREIT, Inc.

$8.60 +0 (+0%)

Day's Range:
N/A

52-Week Range:
$7.38 to $13.44

Volume:
N/A

Volume (Avg):
6,371,260

Earnings per Share:
$-0.92

PEG / Short / PE Ratios:
0.00 / 5.10 / N/A

Market Cap:
$7.77B

Book Value:
10.07

EBITDA:
$1.33B

Morningstar Financial Ratios