American Realty Capital Properites reported the results of its internal investigation into accounting irregularities and SURPRISE, it's just some weak controls.
Interim ARCP CEO William Stanley is quoted, "Importantly, the investigation did not identify any material changes relating to our real estate ownership, the validity of our leases or our fundamental business operations."
So we're good then, right? I mean when have you ever heard of a companyhaving weak controls that were indicative of a larger problem?
[WSJ]