St. Joe Tries To Stamp Out Securities Fraud Action

Law360, New York (October 25, 2011, 3:24 PM EDT) -- Prominent Florida real estate developer The St. Joe Co. on Monday tried to put an end to a shareholder class action alleging the company and its officers inflated the value of its extensive holdings, saying the complaint fails to identify any fraudulent dealings.

The suit centers on claims that St. Joe, a leading real estate developer in the state with roughly $750 million in holdings, fraudulently misled the market by failing to recognize appropriate impairments on its assets even though its sales and the value of...
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