MILBANK, TWEED, HADLEY & MrCLOY LLP 28 LIBERTY STREET LOS ANGELES BEIJING 424-386-4000 NEW YORK, N.Y. 10005-1413 8610-5969-2700 FAX 213-629-5063 FAX: 8610-5969-2707 WASHINGTON, D.C. 212-530-5000 HONGKONG 202-835-7500 FAX 212-530-5219 852-2971-4888 FAX: 202-835-7586 FAX 852-2840-0792 LONDON SEOUL 44-20-7615-3000 Scott A. Edelman 822-613 7-2600 FAX 44-20-7615-3100 ~---~-_ _ Chammn FAX 822-6137-2626 FRAN KFURT 49-69-71914-3400 FAx 49-69-71914-350 1iffDoq ~:.~xv· \DNY J'r•,:MENT -----.:...:=~1•5149DIRECT DIAL NUMBER Fax. ill 822-5149 E-MAIL· sede • @nnlbank.com SINGAPORE 65-6428-2400 FAX· 65-6428-2500 MUNICH ELECTRON ICA i ! r F~ 10, 2018 ToKYo 49-89-25559-3600 DOC' ~'fl/' 813-5410-2801 FAX 49-89-25559-370. #:____ ··---. f r-::::.:::::::----::~-- FAX 813-5410-2891 ~; Iof!!/J_ -D':!. ---.,;~::.:.:--- '(_;Jjl1 "D ~ © 10 Lr-;;1-;:~6;: 1 1 ' r -- ---[ID,-:..0 sxo PAULO J · • •• I 5 5-1 1-3 921- no o FAX 55-Jl-3927-7771 VIA ECF AND HAND DELIVERY ---J l.'i.. ~J CHAMEf:RS OF The Honorable Alvin K. Hellerstein ALVIN I<. HEi LERSTE/N,;fa-, ~ (J ~* U.. D.J. United States District Judge Southern District of New York Daniel Patrick Moynihan United States Courthouse ~ Lcr,0r ~, ~ ~ 500 Pearl Street /} u...r-~ .-., -lo New York, NY 10007-1312 ~ r L,;.J. ~ ~ ~ • f () r / 2,., .,.,,..,.-,'¥'/)IA Re: Certain Non-Class Actions Relatin to In re American Realt Ca ital Pro erties~/ /.11_,,b::::::-- lnc. Litigation, No.15-mc-000 40-AKH Dear Judge Hellerstein: ~ a (C· The undersigned submits this letter jointly on behalf of Defendants American Realty Capital Properties, Inc. and ARC Properties Operating Partnership, L.P. (collectively, the "ARCP Defendants'), and the direct action Plaintiffs (the "Settling Plaintiffs") in the following individual actions: BlackRock ACS US Equity Tracker Fund, et al. v. American Realty Capital Properties, Inc., et al., No. 1:15-cv-08464-AKH; Clearline Capital Partners LP, et al. v. American Realty Capital Properties, Inc., et al., No. 1:l 5-cv-08467-AKH; Eton Park Fund, L.P. v. American Realty Capital Properties, Inc., et al., No. 1:16-cv-09393-AKH; HG Vora Special Opportunities Master Fund, Ltd. v. American Realty Capital Properties, Inc., et al., No. l:15-cv-04107-AKH; Pentwater Equity Opportunities Master Fund Ltd., et al. v. American Realty Capital Properties, Inc., et al., No. l:15-cv-08510-AKH; PIMCO Funds: PIMCO Diversified Income Fund, et al. v. American Realty Capital Properties, Inc., et al., No. 1:15-cv-08466-AKH; Reliance Standard Life Ins. Co., et al, v. American Realty Capital Properties, Inc. et al., No. I:17-cv-02796-AKH; and The Honorable Alvin K. Hellerstein October I 0, 2018 Page 2 Twin Securities, Inc., et al. v. American Realty Capital Properties, Inc., et al., No. I:15-cv-01291- AKH (the "Settled Individual Actions"). On Monday, October 8, 2018, the ARCP Defendants and the Settling Plaintiffs, represented by Bernstein Litowitz Berger & Grossmann LLP, submitted dismissal papers in the Settled Individual Actions. These dismissal papers were submitted because the ARCP Defendants and these Settling Plaintiffs reached settlements of the Settled Individual Actions, in which the Settling Plaintiffs received certain monetary compensation and, in exchange, agreed, among other things, to dismiss all of their individual claims asserted in the Settled Individual Actions. The Settled Individual Actions are individual actions, and not class actions, and thus no inquiry or approval pursuant to Rule 23 or otherwise is necessary. The settlement, and dismissal papers submitted in the Settled Individual Actions, relate only to the Settled Individual. Actions, and do not relate to the ongoing class action, 1 derivative action,2 or to the plaintiffs represented by Lowenstein Sandler LLP in the remaining individual actions which are still pending, specifically: Archer Capital Master Fund, L.P., et al. v. American Realty Capital Properties, Inc., et al., No. 1:16-cv-05471-AKH; Atlas Master Fund, Ltd., et al. v. American Realty Capital Properties, Inc., et al., No. 1:16-cv-05475-AKH; Cohen & Steers Institutional Realty Shares, Inc., et al. v. American Realty Capital Properties, Inc., et al., No. 1:l 8-cv-06770-AKH; Fir Tree Capital Opportunity Master Fund, Ltd., et al. v. American Realty Capital Properties, Inc., eta/., No. 1:16-cv-04975-AKH; and Jet Capital Master Fund, L.P. et al. v. American Realty Capital Properties, Inc., et al., No. 1:15-cv-00307-AKH. The parties thank the Court for its attention to this matter. Respectfully submitted, Isl Scott A. Edelman Scott A. Edelman cc: All counsel (via ECF) 1 The class action is In re American Realty Capital Properties, Inc. Litigation, No. 15-mc-00040-AKH. 2 The derivative action is Witchko v. Schorsch, et al., No. l:15-cv-06043-AKH.