Kirby McInerney LLP announced today that there are multiple class action lawsuits pending in the United States District Court for the Southern District of New York on behalf of investors who acquired American Realty Capital Properties, Inc. (“ARCP” or the “Company”) (NASDAQ:ARCP) securities during the period from February 27, 2014 through October 29, 2014 (the “Class Period”).

The lawsuits allege that ARCP violated federal securities laws. On October 29, 2014, the Company announced that its Audit Committee concluded that ARCP’s earnings releases and other financial communications are unreliable for the periods contained in the Company’s Form 10-K for the fiscal year ended December 31, 2013, and its Quarterly Reports on Form 10-Q for the fiscal periods ended March 31, 2014 and June 30, 2014.

According to the Company’s press release, the Audit Committee believes that ARCP overstated “certain amounts related to its non-controlling interests in the calculation of adjusted funds from operations (“AFFO”)” for the three months ended March 31, 2014. The Audit Committee believes that this error was identified but intentionally not corrected, and that other “AFFO and financial statement errors were intentionally made, resulting in an overstatement of AFFO and an understatement of the Company’s net loss for the three and six months ended June 30, 2014.” ARCP also announced that the Company’s CFO and Chief Accounting Officer have resigned from their positions in the wake of the disclosures of the accounting errors and subsequent coverups.

On this news, the price of ARCP stock dropped 23.91%, from $12.38 at close on October 28, 2014 to $9.42 at close on October 29, 2014.

If you acquired ARCP securities during the Class Period and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com, or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at mfortunato@kmllp.com, or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.

Kirby McInerney LLP is a New York-based law firm concentrating in securities, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.