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News Breaks
May 23, 2014
05:35 EDTJOESaint Joe Co. upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Saint Joe Co. to Outperform with a $25 price target citing the company's excess cash, which it expects will be used for share buybacks.
News For JOE From The Last 14 Days
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January 26, 2015
16:55 EDTJOESaint Joe Co. receives 'Wells Notice' from SEC
As previously disclosed in the company’s filings, on January 4, 2011 the Company received notice from the Staff of the SEC of the initiation of an inquiry into the Company’s policies and practices concerning impairment of investment in real estate assets. On July 1, 2011, the Company disclosed that it had received notice from the Staff that the Staff had issued a related order of private investigation. On January 20, 2015, the Company received a written "Wells Notice" from the Staff indicating the Staff’s preliminary determination to recommend that the Commission file an action against the Company for violations of certain federal securities laws. The Staff has informed the Company that the Wells Notice relates to historical accounting and disclosure practices and real estate asset valuations principally as reflected in the Company’s financial results for 2010, 2009 and prior periods. All allegations relate to actions taken prior to the 2011 replacement of the Company’s Board of Directors, the CEO and the CFO. The Wells Notice allegations involve former employees and one current non-executive officer and the Wells Notice is not directed towards any of the Company’s current or recently retired directors or executive officers or any of its controlling shareholders.

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