The Business Times

Property

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Property

SUBSCRIBERS

Fee-driven scheme behind American Realty deals

Investors' class action accuses managers of manipulating data to inflate stock for takeovers, which generate fees, and that didn't deliver promised benefits to Reit or shareholders

Published Sun, Apr 19, 2015 · 09:50 PM
Share this article.

New York

BEHIND the accounting errors that knocked US$4 billion off American Realty Capital Properties Inc's market value was a hidden scheme that generated more than US$900 million in managers' fees and bonuses, investors said in a lawsuit against the company.

Ex-chairman Nicholas Schorsch turned a small re…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Property

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here