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P&F Industries Inc. Message Board

  • longtimefollower longtimefollower May 5, 2014 10:06 AM Flag

    P&F 5% holder demands 2 directors resign; announces voting intentions

    Please see my press release from today, along with the related SEC 13D filing.

    The release speaks for itself. I believe the 2 compansation committee members, Kenneth M. Scheriff and Jeffrey R. Franklin have, without question, have evidenced themselves to be corrupt figures, serving on P&F's board exclusively to "feather the nest" of CEO Richard Horowitz, as Horowitz licentiously, with moral larceny in his spirit, and a sense of contempt for the outside shareholder base, has taken out the lion's share of the increase in the company's value, over the last decade or more, for himself.

    There is no justification for the pay that Horowitz continues to take out of this company, and the "revision" of his employment agreement, by Scheriff and Franklin, for 2014, reveals in spades, the form of perverse and diabolical "sway" that Horowitz has over a majority of the P&F board.

    I intend to vote to WITHHOLD directors Scheriff, and Mitchell A. Solomon (a golfing buddy and close personal friend of Horowitz) at the upcoming annual meeting later this month. I also intend to vote AGAINST the approval of the executive pay.

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    • Brilliant, LTF. Google Finance shows it as a WSJ story. Hopefully the larcenous stranglehold this CEO and his stooges have on P&F will be broken.

      I have to say, I miss the more frequent posts you used to make. Much envious of the 10 investors you represent...

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