0 . ▁In ▁October ▁ 2 0 1 4 , ▁the ▁company ▁admitted ▁to ▁an ▁account ing ▁error ▁of ▁$ 2 3 ▁million , ▁leading ▁to ▁significant ▁sales ▁of ▁the ▁company ' s ▁stock ▁and ▁a ▁drop ▁in ▁its ▁value ▁by ▁$ 3 ▁billion . ▁The ▁company ▁fired ▁Chief ▁Fin an cial ▁Officer ▁Brian ▁Block ▁after ▁an ▁aud it ▁committee ▁investigation , ▁and ▁said ▁that ▁financial ▁information ▁in ▁its ▁ 2 0 1 3 ▁ 1 0 - K ▁and ▁Q 1 ▁and ▁Q 2 ▁ 2 0 1 4 ▁quarter ly ▁reports ▁" should ▁no ▁longer ▁be ▁re lied ▁upon ." ▁Law su its ▁followed , ▁with ▁invest ors ▁claim ing ▁AR CP ▁had ▁mis st ated ▁financi als ▁in ▁order ▁to ▁infl ate ▁financial ▁results . ▁In ▁December ▁Sch or sch ▁res igned ▁as ▁Chair man . ▁ ▁In ▁September ▁ 2 0 1 9 , ▁V ERE IT ▁entered ▁into ▁agre ements ▁to ▁sett le ▁pending ▁class ▁action ▁lit ig ation ▁against ▁it ▁regarding ▁among ▁other ▁things ▁alleg ed ▁viol ations ▁of ▁Section ▁ 1 1 ▁of ▁the ▁ 1 9 3 3 ▁Act ▁( In ▁re ▁American ▁Real ty ▁Capital ▁Properties , ▁Inc . ▁Lit ig ation ▁and ▁the ▁remaining ▁opt - out ▁actions ), ▁at ▁a ▁cost ▁to ▁V ERE IT ▁of ▁$ 7 6 5 . 5 ▁million . ▁ ▁American ▁Real ty ▁Capital , ▁led ▁by ▁Sch or sch , ▁and ▁its ▁princip als ▁paid ▁$ 2 2 5 ▁million ▁towards ▁the ▁settlement . ▁ ▁Real