Meyer v. Weil et al, Case No. 24-C-23-003628, is a stockholder class action currently pending in the Circuit Court for Baltimore City, Maryland, before the Honorable Audrey J.S. Carrión. The lawsuit was filed by plaintiffs Robert G. Meyer and Thomas W. Miars on behalf of all owners of The Necessity Retail REIT, Inc. (“RTL”) common stock as of September 12, 2023.
The complaint alleges that defendants Michael Weil, members of the RTL board, and AR Global Investments, LLCbreached their fiduciary duties to stockholders in connection with company governance and transactions, resulting in financial harm to investors.
On April 25, 2025, the parties agreed to a proposed settlement of $3.25 million in cash, which, if approved, will resolve all claims in the action. A Settlement Hearing has been scheduled for September 16, 2025 at 9:30 a.m., in person at the Circuit Court of Baltimore City, to determine, among other things, whether to grant final approval of the settlement, certify the class, approve the proposed plan of allocation, and award attorneys’ fees and expenses.
A copy of the Press Release can be found here: Necessity-Press Release