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VEREIT to pay $42.5M to settle with four more opt-out plaintiffs

Published 10/26/2018, 04:44 PM
© Reuters.  VEREIT to pay $42.5M to settle with four more opt-out plaintiffs
  • VEREIT (NYSE:VER) and its operating partnership agree to pay $42.5M to settle previously disclosed litigations with four opt-out plaintiffs regarding disclosures made in October 2014 and March 2015, including restatement of certain financial reports.
  • The company has now settled claims brought by plaintiffs representing about 31% of VEREIT's outstanding shares of common stock and swaps referencing common stock held at the end of the period covered by the various pending shareholder actions for a total of $217.5M.
  • The plaintiffs include Archer Capital Master Fund, Atlas Master Fund, Fir Tree Capital Opportunity Master Fund, and Cohen & Steers Institutional Realty Shares.
  • Previously: VEREIT to pay $85M to settle with eight opt-out plaintiffs (Oct. 2)
  • Now read: Vereit: Just Settling


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