Nicholas Schorsch's bad week just got worse.

The executive chairman of independent broker-dealer giant RCS Capital, who resigned earlier this week as chairman of American Realty Capital Properties -- walking away from a compensation package valued at about $100 million in the process -- has reportedly been hit with a $50 million lawsuit accusing him of directing two ARCP executives to manipulate quarterly financial results, according to The Wall Street Journal.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access