NY law firm files action against St. Joe | Jacksonville Business Journal


All you Kool-Aid drinkers who voted against Amendment 4, take note. This is one of the very things it was designed to avoid in the future.

The plaintiffs allege that St. Joe failed to disclose and misrepresented the following: As the Florida real estate market was in decline, the company failed to take adequate and required impairments and accounting write-downs on many of its Florida developments and, as a result, the company’s financial statements overvalued those developments.

via NY law firm files action against St. Joe | Jacksonville Business Journal.

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