American Finance Trust, Inc. Securities Litigation
On or around 10/04/2018 (Ongoing date of last review)
Filing Date: February 08, 2018
According to the Complaint, American Finance Trust, Inc. ("AFIN" or the "Company") is a publicly registered, non-traded real estate investment trust formerly known as American Realty Capital Trust V, Inc. AFIN invests in single-tenant commercial properties that are net leased to investment grade and creditworthy tenants.
The Complaint alleges that, beginning in December, 2016 and through February 9, 2017, in order to convince AFIN shareholders to vote in favor of the merger between AFIN and another AR Global affiliate, Retail Centers of America, Defendants drafted, filed with the SEC, and issued publicly and directly to AFIN shareholders materially incomplete and misleading proxy materials (the "Proxy Materials") in violation of Sections 14(a) and 20(a) and (b) of the Exchange Act and SEC Rule 14a-9 (17 C.F.R. 240.14a-9) thereunder.
Company & Securities Information
Defendant: American Finance Trust, Inc.
Industry: Misc. Financial Services
Headquarters: United States
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Carolyn St. Clair-Hibbard, et al. v. American Finance Trust, Inc., et al.