Real estate investment trust VERIET, Inc. (formerly known as American Realty Capital Properties) announced this week that it agreed to a $765.5 million settlement to resolve shareholder class action and related lawsuits arising from a host of alleged securities violations and accounting fraud at ARCP since the company went public in 2011. Defendants in the class action settlement have agreed to pay more than $1 billion in compensation, including millions from ARCP’s former manager and principals, chief financial officer, and former auditor.

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Bear Stearns’ insurers were recently dealt a fatal blow, when the trial court granted Bear Stearns’ motion for summary judgment and denied all insurers’ motions (and defenses). See J.P. Morgan Sec. Inc. v. Vigilant Ins. Co., 2017 N.Y. Slip Op. 27127, 11 (N.Y. Sup. Ct. 2017). The court found that the documentary and testamentary evidence presented by Bear Sterns overwhelmingly demonstrated that Bear Stearns’ misconduct profited their customers instead of resulting in Bear Stearns’ own “ill-gotten gains.” The court also found the settlement amounts reached by Bear Stearns in the SEC action and the private civil suits to be reasonable.

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