Recent

% | $
Quotes you view appear here for quick access.

Corrections Corporation of America Message Board

  • Oracle_of_Omaha Oracle_of_Omaha Dec 6, 2000 9:46 AM Flag

    Pfd B Exchange Ratio Legality

    Anyone else think that CXW management misled
    investors by limiting the Pfd B exchange ratio to common
    based on a average common price at no less than
    $1/share? The original descriptions of the Pfd B made no
    mention of exchange ratio limits.

    If so misled by
    CXW, anyone wish to opine on legal remedies, if any?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Given that the stock is almost what we predicted
      it to be last month, you hit it right on the
      head.
      Expect to see a law suit at the end of the 2nd
      conversion. This situation is just ripe for lawyers. Should
      be filed probably at end of December, can't be done
      before the end of 2nd conversion of course.

      Once
      again, what you see is at worst, a deliberate attempt to
      smoke investors and at best incompetence in handling
      this matter.
      I am not a IRS expert by if I would
      be, I would be having hard questions about the PDFB
      scheme... Looks to me like a tax evasion scheme where
      everyone, IRS, Taxpayers and shareholders are holding the
      tab to "save" the company (or rather keep the execs
      in their jobs for awhile longer).

      Well anyway
      these developments are consistent with all past
      developments, so no one should be surprised of the next actions
      that will hit them..

      One thing I was wrong
      about is an up spike if Bush would be the likely next
      president. That should have been some good news on the
      industry as a whole yesterday. Instead we almost touched
      1/4. Humm.. I wonder why..

 
CXW
28.93+0.16(+0.56%)11:11 AMEDT