"On behalf of the undersigned, a shareholder of CommonWealth REIT, we write to express to you our deep concerns regarding certain proposed amendments to House Bill 882 initiated by CommonWealth REIT and Barry Portnoy.
The amendments are not an effort to protect shareholders or employees of Maryland or any other state. The only interests protected are those of a Massachusetts-based family operation that is getting paid hundreds of millions of dollars annually at the expense of shareholders like us."
This is a msge recvd by the Law Firm representing the DE County (PA) Employyees Retirement Fund in Federal Court. The Portnoys submitted the Amendments.
Amendment to HR 882 that would have reduced shareholder rights to remove the Board was defeated by the Md Legislature last night. The Porkneys now hoping for a 2/3 vote to retain power AND successful defense in lawsuits. Either failure will remove the Board.