A former American Realty Capital Properties Inc. (ARCP) executive dropped her lawsuit accusing the company of firing her for blowing the whistle on financial improprieties.
Lawyers for Lisa McAlister, ARCP’s former chief accounting officer, and the real estate investment trust filed an agreement to discontinue the case Thursday in New York state court in Manhattan. The filing didn’t provide further details.
McAlister claimed in her December complaint she was terminated in retaliation for her statements that changes in accounting practices were an attempt to hide the company’s faltering financial performance. She didn’t cite any evidence beyond the allegation.
Scott Edelman, a lawyer for American Realty, and Stephen Meister, a lawyer for McAlister, didn’t immediately respond to phone and e-mail messages after regular business hours seeking comment on the stipulation to end the lawsuit.
McAlister said in the lawsuit that she voiced her concerns to then-Chairman Nicholas Schorsch and then-Chief Executive Officer David Kay before being fired.