Defendant Name:
New York REIT, Inc.
Defendant Type:
Public Company
SIC Code:
6798
CUSIP:
64976L10
Document Reference:
34-80992
Document Details
Legal Case Name
In the Matter of New York REIT, Inc. and New York Recovery Advisors, LLC
Document Name
Order Instituting Cease-and- Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, Imposing Civil Penalties, and a Cease-and-Desist Order
Document Date
21-Jun-2017
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
According to the SEC: "These proceedings arise out of the failure of NY REIT, a public, non-exchange listed ("non-listed") real estate investment trust ("REIT"), to make accurate and complete disclosures concerning revisions to its corporate charter. NY REIT's corporate charter revisions limited the applicability of certain shareholder protections, including the right to an independent appraisal of NY REIT's assets, in the event of a "Roll-Up Transaction." NY REIT's corporate charter defined a Roll-Up Transaction as involving the acquisition, merger, conversion or consolidation of the company and the issuance of securities of the acquiring entity to shareholders of NY REIT's common stock."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Defendants in Action:
