Search found 55 matches

by lawfox
Thu Jun 09, 2011 8:33 am
Forum: Prime Group Realty Series B Preferreds
Topic: Merger Fails Miserably
Replies: 3
Views: 13098

Re: Merger Fails Miserably

i have a correction to make. 639,000 voted for the merger. Approximately, 800,000 did not vote. I will have the exact numbers when I receive a copy of the court reporter's transcript, which I requested yesterday. Apparently, the joint venture in Arizona has been disposed of, with no shareholder cons...
by lawfox
Tue Jun 07, 2011 10:04 am
Forum: Prime Group Realty Series B Preferreds
Topic: Merger Fails Miserably
Replies: 3
Views: 13098

Merger Fails Miserably

In a stunning blow to current management, shareholders resoundingly defeated the ridiculous merger. The company press release soft pedals the results. Not only did they fail to get 2/3's of the vote, 2,600,000 out of 4,000,000 shares voted AGAINST the ill-advised merger. A scant 39,000 voted for the...
by lawfox
Sun May 29, 2011 8:15 am
Forum: Prime Group Realty Series B Preferreds
Topic: Change Proxy
Replies: 4
Views: 14484

Re: Change Proxy

Greetings, The lawsuit recently filed by Mr Rameson and others apparently seeks to do just that. I have not yet read the complaint. Five Mile's response will be interesting. I have given my proxy to Sam Orticelli with instructions to vote for Messrs Tyler Rameson and Charles Humphries for the truste...
by lawfox
Wed May 04, 2011 2:10 pm
Forum: Prime Group Realty Series B Preferreds
Topic: Change Proxy
Replies: 4
Views: 14484

Re: Change Proxy

Now, officers are visiting large shareholders offering them a stake in the PGRT joint ventures if they vote for the merger.
This is clear evidence that the officers have abandoned their fiduciary duties to all shareholdres.
The large shareholders have not been impressed by this maneuver.
by lawfox
Tue Apr 26, 2011 8:04 am
Forum: Prime Group Realty Series B Preferreds
Topic: Change Proxy
Replies: 4
Views: 14484

Change Proxy

Do not vote for Patterson and Hoffman to represent your shares at the 6 June meeting. When they see that they lack 2/3's vote, they will simply postpone the meeting to avoid the vote on the merger and for our trustees. Draw a line through their names and write in a name or names above their's. It mu...
by lawfox
Thu Apr 21, 2011 3:18 pm
Forum: Prime Group Realty Series B Preferreds
Topic: 6 June Election
Replies: 0
Views: 9441

6 June Election

The election regarding the merger is set for 6 June. Be sure to vote no. $5 for a $25 share is unacceptable. Company employees are calling and visiting shareholders. But, we are holding our ground. It is very unlikely that management will get 2/3s of the shares to vote for the merger. On a slightly ...
by lawfox
Thu Mar 03, 2011 11:48 am
Forum: Prime Group Realty Series B Preferreds
Topic: Lightstone bails on PGRT
Replies: 11
Views: 25212

Re: Lightstone bails on PGRT

Another wrinkle is that the company may manipulate the merger vote by setting a record date that will allow their friends to accumulate enough shares to pass the 2/3s threshold. I anticipate that they will try everything they can to achieve the merger anhd dump us. Volume has been higher than averag...
by lawfox
Wed Feb 23, 2011 11:05 am
Forum: Prime Group Realty Series B Preferreds
Topic: Lightstone bails on PGRT
Replies: 11
Views: 25212

Potential Five Mile Conflict

Apparently, "fiduciary" is not a word in the defectors' vocabulary. My recent research revealed that Mr. Lichtenstein has a personal guarantee in the ESH bankrupcty and that Five Mile had a dischargeable loan junior to that. Mr. Lichtenstein is attempting to weasel out of his personal responsibility...
by lawfox
Tue Feb 15, 2011 7:51 pm
Forum: Prime Group Realty Series B Preferreds
Topic: LaSalle bails on Wabash
Replies: 2
Views: 11857

Re: LaSalle bails on Wabash

I do not know the exact number of floors, but I think it is about 40. $5.00 does not begin to match the value. Also, see an article at chicagorealestatedaily.com I have identified two institutional holders and am asking them to support our effort. Call or write to the company and demand a speedy ele...
by lawfox
Mon Feb 14, 2011 7:56 pm
Forum: Prime Group Realty Series B Preferreds
Topic: Lightstone bails on PGRT
Replies: 11
Views: 25212

Re: Lightstone bails on PGRT

I will call both PGRT and Five Mile 203-905-0983 tomorrow to register my objection and tell them the offering price is too low.It barely covers the arrearages. Also, I do not know what affiliate of our Company has agreed to go forward with the Wabash transaction. It may be comprised of the rats that...