Consolidated Tomoka Announces Engagement of Deutsche Bank Securities Inc. to Explore Strategic Alternatives Including Possible Sale of Company

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Go back to Consolidated Tomoka Announces Engagement of Deutsche Bank Securities Inc. to Explore Strategic Alternatives Including Possible Sale of Company

Consolidated-Tomoka Land's (CTO) Independent Investigation Finds No Evidence of Wrongdoing

February 9, 2016 5:53 PM EST

Consolidated-Tomoka Land Co. (NYSE: CTO) (the Company) today announced that the Audit Committee of the Board of Directors of CTO has conducted a review of allegations raised in recent correspondence from Wintergreen Advisers, LLC, including the allegation that CTO has made misleading statements regarding the use and calculation of leverage, allegations regarding the non-disclosure of internal measurements of net asset value ("NAV") and allegations regarding CTO's investments in financial derivatives and disclosure thereof (the "Allegations"). The Audit Committee is comprised of three independent Directors of CTO, Messrs. William L. Olivari, John J. Allen, and... More