The St. Joe Company Under Investor Investigation Concerning Takeover Rumors

If you purchased The St. Joe Company (NYSE:JOE) and currently continue to hold those NYSE JOE shares, and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
St. Joe Company (the)
Affected Securities: 
NYSE: JOE

After the St. Joe Company announced that its Board of Directors has decided to explore financial and strategic alternatives, including also strategic acquisitions and a merger or sale of St. Joe Co, to enhance shareholder value an investigation on behalf of investors of The St. Joe Company (NYSE:JOE) over possible breaches of fiduciary duty was announced.

The investigation by a law firm concerns whether certain directors and officers at The St. Joe Company (NYSE:JOE) or others breached or will breach their fiduciary duties in connection with a potential takeover and also in the event of a buyout.

On February 8, 2011, The St. Joe Company announced that that its Board of Directors has unanimously decided to explore financial and strategic alternatives to enhance shareholder value.
The St. Joe Company said its board of director intends to consider the full range of available options including a revised business plan, operating partnerships, joint ventures, strategic alliances, asset sales, strategic acquisitions and a merger or sale of the Company.

Shares of the St. Joe Company (NYSE: JOE) started trading on the next day at $29.85 per share, but then fell to $26.37 per share on February 10, 2010. Shares of The St. Joe Company traded as high as over $80 in 2005 before declining in mid 2006 to as low as $43.87 per share. During the second half of 2006 until mid 2007 St. Joes shares regained value to almost $60 per share in April 2007. In the second half of 2007 JOE shares fell to under $30 per share. During 2008 JOE shares were able to hold value until fall 2008 when the financial crisis hit the markets and JOE shares began to lose value. JOE shares fell to as low as $14.59 per share in March 2009. But shares of The St. Joe Company (NYSE: JOE) traded as recently as January 27 at $29.47 and January 26 as $29.50 and reached in April 2010 even $37.13 per share.

Therefore the investigation monitors and concerns whether The St. Joe Company Board of Directors will undertake an adequate and fair sales process in the event of a takeover to obtain the maximized consideration for all shareholders of The St. Joe Company (NYSE:JOE) and will breach their fiduciary duties to The St. Joe Co. (JOE) shareholder by failing to adequately shop the Company before entering into any transaction. A potential class action lawsuit would seek to maximize the amount of money and information NYSE JOE shareholders would receive in a buyout, so the law firm.