Edward Ptaszek, the secretary of the company's board of directors, says Goldstein called the company last week and offered to sell his shares at the expense of all other stockholders, that there is no alternative offer for acquiring Captec and that liquidation would be too costly an option. Also, Ptaszek says pursuing appraisal rights is a costly and time-consuming process that would require filing a lawsuit, which would temporarily end dividends and reduce share value.
Goldstein has said the company's president is pocketing money on various deals, and Captec officials have been misleading shareholders about the merger. A special merger meeting is scheduled for Monday.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.