SBD/31/Franchises

HERALD NOTES QUESTIONS SURROUNDING PANTHERS STOCK PURCHASE

          Stock purchases made late last fall by four directors
     of Florida Panthers Holdings have attracted the attention of
     other investors, according to Cindy Krischer Goodman of the
     MIAMI HERALD.  Recently filed records reveal the execs
     bought $2.87M of the company's stock "just before" the
     announcement of a "key" acquisition drove up the stock.  The
     directors purchased 285,000 shares for $10.06/share from
     November 13-December 16, six days before the Panthers
     acquired two Fort Lauderdale resort hotels.  The shares are
     currently trading for $32.  Among the directors: Republic
     Industries Vice Chair Harris Hudson and President Steven
     Berrard; Huizenga Holdings President Richard Rochon; and
     Huizenga's Extended Stay America CEO George Johnson. 
     Huizenga spokesperson Stan Smith said there were no "insider
     purchases" of Panthers stock, adding the investors "have a
     lot of confidence in the company and the management."  But,
     some early investors are "miffed," and have filed suit in
     federal court in Ft. Lauderdale on behalf of those who sold
     their shares between the period in which the execs made
     their purchases.  They charge Huizenga and other officers
     with securities violations and misrepresentation of the
     company's short-term prospects (MIAMI HERALD, 1/30).

Return to top

Related Topics:

Franchises

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug