The law firm of Kirby McInerney LLP is investigating potential claims against ARMOUR Residential REIT, Inc. (“ARMOUR” or the “Company”) (NYSE:ARR). The investigation concerns whether ARMOUR and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
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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.
If you purchased or otherwise acquired ARMOUR securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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