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Stock Market & Financial Investment News

News Breaks
April 1, 2014
12:15 EDTCWHCorvex, Related urge CommonWealth to file SEC statement today
Corvex Management and Related Fund Management, whose separately managed investment funds collectively own approximately 9.6% of the outstanding shares of CommonWealth REIT (CWH), commented: "We are disappointed by the Current Report on Form 8-K filed by the officers of CommonWealth REIT yesterday. In the filing, signed by John C. Popeo, CommonWealth's current Treasurer and Chief Financial Officer, CommonWealth describes a letter received from The New York Stock Exchange describing certain deficiencies in meeting various listing standards as a result of the decision of the holders of over 81% of the outstanding shares to remove the entire Board of Trustees...In light of the delayed timeframe CommonWealth has proposed for holding the special meeting, we urge CommonWealth's officers to communicate accurately with its shareholders, particularly when referencing sensitive matters such as the Company's listing status during its transition to a new Board. We also urge CommonWealth and its advisors to complete by close of business today the filing of their preliminary information statement with the SEC and accelerate completion of the special meeting to elect a new Board."
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