ARMOUR Residential REIT, Inc.

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Investigation Details

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, ARMOUR announced that its Chief Financial Officer had been “removed,” on March 13, 2024.

Following this news, ARMOUR’s stock price dropped over 3% on March 14, 2024.