X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY—Seeking to dispel the perception that his company’s top financial personnel had sought to inflate quarterly earnings numbers, American Realty Capital Properties‘ CEO on Wednesday afternoon said the misstated earnings grew out of an accounting error that was then covered up. The mistake, which precipitated a plummeting of the net lease REIT‘s stock prices on Wednesday and prompted a number of analysts to issue downgrades, resulted in the resignations of CFO Brian Block and chief accounting officer Lisa McAlister earlier the same day.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.