BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of ARMOUR Residential REIT, Inc. (“ARMOUR” or the “Company”) (NYSE: ARR) investors concerning the Company’s possible violations of federal securities laws.
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, ARMOUR’s stock price fell $0.87, or 4.4%, to close at $18.72 per share on March 14, 2024, thereby injuring investors.
If you purchased ARMOUR securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
