LEXINGTON REALTY TRUST (NYSE:LXP) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01 in its entirety to remove the incorrect reference and to include Exhibit 16.1.
LEXINGTON REALTY TRUST (NYSE:LXP) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01.>Change in Registrant’s Certifying Accountants.
On March 28, 2017, the Audit Committee of the Board of Trustees of Lexington Realty Trust (the “Trust”) elected to replace KPMG LLP as the independent registered public accounting firm for the Trust and Lepercq Corporate Income Fund L.P. (“LCIF”) and approved the engagement of Deloitte & Touche LLP as the independent registered public accounting firm for the Trust and LCIF for the year ending December 31, 2017. The replacement follows a process where the Audit Committee obtained competitive bids from two firms and met with KPMG LLP to review its proposed engagement terms for 2017.
During the two fiscal years ended December 31, 2016, and the subsequent interim period through March 28, 2017, there were no disagreements between the Trust and KPMG LLP or LCIF and KPMG LLP on any matter of accounting principle or practice, financial statement disclosure, or auditing scope or procedure that, if not resolved to KPMG LLP’s satisfaction, would have caused it to make reference to the matter in conjunction with its report on the consolidated financial statements of the Trust and LCIF for the relevant year.
KPMG LLP’s reports on the consolidated financial statements of the Trust and LCIF for the two fiscal years ended December 31, 2016, did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. Further, there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K except that the report of KPMG LLP on the effectiveness of internal control over financial reporting of the Trust as of December 31, 2016 referenced a material weakness related to ineffective controls over written policies and procedures regarding the Trust’s critical accounting policies and significant or unusual transactions, over the identification, authorization, analysis and communication to those charged with governance of critical accounting policies and significant or unusual transactions and the accounting for lease terminations. The material weakness and management remediation plan were discussed in the Annual Report on Form 10-K for the Trust and LCIF for the fiscal year ended December 31, 2016.
The Trust and LCIF furnished a copy of the above disclosures to KPMG LLP and requested that KPMG LLP furnish the Trust and LCIF with a letter addressed to the Securities and Exchange Commission stating whether or not KPMG LLP agrees with the statements made above. A copy of that letter is filed as Exhibit 16.1 to this Current Report on Form 8-K/A.
During the Trust’s two most recent fiscal years ended December 31, 2016, and the subsequent interim period through March 28, 2017, neither the Trust nor LCIF consulted with Deloitte & Touche LLP regarding any of the matters or events set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
16.1 Letter of KPMG LLP, dated April 4, 2017.
About LEXINGTON REALTY TRUST (NYSE:LXP)
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area. The Company has equity ownership interests in approximately 215 consolidated real estate properties, located in over 40 states and containing an aggregate of approximately 42.3 million square feet of space, approximately 96.8% of which was leased. The properties in which the Company has an interest are leased to tenants in various industries, including service, automotive, technology, transportation and logistics, and finance and insurance. LEXINGTON REALTY TRUST (NYSE:LXP) Recent Trading Information
LEXINGTON REALTY TRUST (NYSE:LXP) closed its last trading session down -0.08 at 10.07 with 2,387,454 shares trading hands.
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area. The Company has equity ownership interests in approximately 215 consolidated real estate properties, located in over 40 states and containing an aggregate of approximately 42.3 million square feet of space, approximately 96.8% of which was leased. The properties in which the Company has an interest are leased to tenants in various industries, including service, automotive, technology, transportation and logistics, and finance and insurance. LEXINGTON REALTY TRUST (NYSE:LXP) Recent Trading Information
LEXINGTON REALTY TRUST (NYSE:LXP) closed its last trading session down -0.08 at 10.07 with 2,387,454 shares trading hands.