ARMOUR Residential REIT, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: ARMOUR Residential REIT, Inc. |
Ticker: | Ticker: ARR |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
On March 1, 2024, ARMOUR disclosed that it had commenced an internal investigation to review internal issues related to “the appropriateness of reporting Distributable Earnings and Net Interest Margin” in earnings releases and “the methods of calculating such measures”, “the Company’s considerations with respect to reviewing and evaluating its external manager”, and “certain of the internal controls over financial reporting and disclosure controls and procedures of the Company.”
Then, on March 13, 2024, ARMOUR announced that its Chief Financial Officer had been “removed.” On this news, the price of ARMOUR shares declined by $1.11 per share, or approximately 5.59%, from $19.83 per share on March 13, 2024 to close at $18.72 on March 14, 2024.
Then, on March 13, 2024, ARMOUR announced that its Chief Financial Officer had been “removed.” On this news, the price of ARMOUR shares declined by $1.11 per share, or approximately 5.59%, from $19.83 per share on March 13, 2024 to close at $18.72 on March 14, 2024.