Shareholders Investigation of St JOE

**SHELLY** · 10-18-2010, 01:12 PM

Rut-Row...

The St. Joe Company under investor investigation over possible securities laws violations

An investigation on behalf of investors in The St. Joe Company (NYSE:JOE) over possible violations of Federal Securities laws by the St. Joe Company was announced.

....David Einhorn proceeded to go through the various developments, citing St. Joe Company�s progress reports on file with local authorities. Einhorn reportedly mentioned a case of one town, out of 2,600 units planned by 2011, St. Joe Company�s only built 12 dwelling units and added �the local fire department said they wouldn�t build a fire station because there�s nothing going on here.� Einhorn reportedly also named other developments by St. Joe Company, such as a development that is advertised as beachfront, but appears to be no land in the development that�s actually by the beach, or another development that is next-door to a sewage facility. The Wall Street Journal further reported that that the basic thesis of Einhorn�s presentation was that �[St. Joe�s] holdings of Florida real estate are worth nowhere near the $746 million the company says they are worth.�

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Just in time for JOE's quarterly conference call Nov 2, 9:30 (CDT)--listen in, it's going to be very interesting.

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**scooterbug44** · 10-18-2010, 01:54 PM

So glad I am not a stockholder!

**SWGB** · 10-18-2010, 02:03 PM

Hmm, a PR put out on a free press release site by an organization the is either a front for class action lawyers or an "investment guru" who really needs his short holdings to pay off.

*I do not own directly or indirectly any JOE stock.

**SHELLY** · 10-18-2010, 02:35 PM

Originally Posted by SWGB

Hmm, a PR put out on a free press release site by an organization the is either a front for class action lawyers or an "investment guru" who really needs his short holdings to pay off.

*I do not own directly or indirectly any JOE stock.

The St. Joe Company

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**kurt** · 10-18-2010, 02:07 PM

Hmmmm . . . right after Joe files multiple lawsuits relating to the Deepwater Horizon incident.

**SWGB** · 10-18-2010, 02:47 PM

So I guess the question is why a law firm that specializes in this field is going after a company that essentially has nothing in real assets?

Notable Recoveries

**SHELLY** · 10-18-2010, 02:57 PM

Originally Posted by SWGB

So I guess the question is why a law firm that specializes in this field is going after a company that essentially has nothing in real assets?

Notable Recoveries

...maybe they have an affinity for swampland.

Lawyers and Alligators

Two alligators are sitting on the edge of a swamp. The small one turns to the big one and says, "I don't understand how you can be so much bigger than I am. We're the same age, we were the same size as kids... I just don't get it."

"Well," says the big alligator, "what have you been eating?"

"Lawyers, same as you," replies the small alligator.

"Hmm. Well, where do you catch 'em?"

"Down at that law firm on the edge of ST JOE, Rivertown."

"Same here. Hmm. How do you catch 'em?"

"Well, I crawl under a BMW and wait for someone to unlock the door. Then I jump out, bite 'em, shake the crap out of 'em, and eat 'em!"

"Ah!" says the big alligator, "I think I see your problem. See, by the time you get done shakin' the crap out of a lawyer, there's nothing left but lips and a briefcase..."
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