secwatch.observer — SEC 8-K summary
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Issuer:     ACADIA REALTY TRUST (AKR)
CIK:        0000899629
Form:       8-K/A
Filed at:   2022-03-01T23:59:59+00:00
Accession:  0000950170-22-002572
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 4.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Acadia Realty restates 2019-2021 financials; no net income impact, but material weakness
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- Restatement due to improper consolidation of two fund investments formed in 2012 and 2013.
- No impact on net income, FFO, or EPS; balance sheet: assets reduced $55.8M, liabilities $57.5M at Dec 31, 2020.
- Immaterial adjustments reduced net income by $0.6M ($0.01/share) for 9 months ended Sept 30, 2021.
- Material weakness in internal control over financial reporting identified; BDO's 2020 report no longer reliable.
- No misconduct or override of controls per audit committee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899629/000095017022002572/0000950170-22-002572-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899629/000095017022002572/akr-20220214.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-002572

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