Seeking Alpha

CommonWealth shareholders weigh in on hearing victory

  • "Today's decision is a tremendous victory for shareholder rights and for all CommonWealth (CWH) shareholders," says Keith Meister (Corvex) and Jeff Blau (Related), commenting on the arbitration panel ruling.
  • The panel ruled CommonWealth should return to its previous bylaw which required just a one year wait time before being allowed a date for a consent solicitation. The "3+3" rule adopted by the CWH board would have required a 3-year wait.
  • Next up is an October evidentiary hearing in which will further address the validity of the consent solicitation.
  • "(We) look forward to (October) and an expeditious and favorable resolution that will enable shareholders to regain control of CommonWealth by year-end."
  • Shares +0.8% in thin premarket trade.
Comments (2)
  • Be Here Now
    , contributor
    Comments (3914) | Send Message
     
    Will SNH be next? As a former SNH owner, I hope so.
    8 Aug 2013, 11:28 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4106) | Send Message
     
    CWH management has been shameless throughout this entire process. The vast majority of CWH owners want them replaced as soon as possible.
    8 Aug 2013, 12:36 PM Reply Like
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