Copy of a message I posted on the Yahoo/Finance/FAF/Message board/012708
First American Corporation has dropped from a recent high of $ 55.11 to a recent low of $27.97.
A lawsuit with worldwide implications was filed recently by attorney general Cuomo of New York State alleging that a First American subsidiary committed major fraud with staggering financial consequences!
Two law firms with most impressive track records, Milberg Weiss and Keller Rorhback are investigating the First American Corporation for alleged fraud under ERISA laws. First American fiduciaries are believed to have intentionally mismanaged the First American employees’ retirement fund.
So what does the First American Corporation decide to do?
Spin off its 100 year old flagship! It decides to cast off its title operations, the very goose that laid its golden eggs for so long!
Retire its New York State president!
Interesting timing indeed to say the least!
Is such strategic timing in keeping with First American’s renowned ability to muddy the waters and complicate the outcome of legal filings?
How often has First American spun off incriminating business in the past?
How often has First American retired key personnel when faced with major lawsuits in the past?
Does the name of Bill Heslington ring a bell?
How often in the past has First American asserted that since a witness was no longer in their employ they could not be held bound to locate and to produce such a witness for depositions?
What a bunch of slick, slick, slick guys run this outfit!
A future close examination of past statements by Kennedy will reveal to what extent Kennedy places the emphasis on possible stock price manipulation as opposed to steering the company with integrity and letting the stock find its own level!
Should an injunction be sought against the First American Corporation restraining it from splitting the company until the courts have ruled over the cases filed against it?
Note that some of those cases have potential international implications.
Reminder: A subsidiary of the First American Corporation was accused of being at the root of and setting off the present international financial turmoil!
First American Corporation has dropped from a recent high of $ 55.11 to a recent low of $27.97.
A lawsuit with worldwide implications was filed recently by attorney general Cuomo of New York State alleging that a First American subsidiary committed major fraud with staggering financial consequences!
Two law firms with most impressive track records, Milberg Weiss and Keller Rorhback are investigating the First American Corporation for alleged fraud under ERISA laws. First American fiduciaries are believed to have intentionally mismanaged the First American employees’ retirement fund.
So what does the First American Corporation decide to do?
Spin off its 100 year old flagship! It decides to cast off its title operations, the very goose that laid its golden eggs for so long!
Retire its New York State president!
Interesting timing indeed to say the least!
Is such strategic timing in keeping with First American’s renowned ability to muddy the waters and complicate the outcome of legal filings?
How often has First American spun off incriminating business in the past?
How often has First American retired key personnel when faced with major lawsuits in the past?
Does the name of Bill Heslington ring a bell?
How often in the past has First American asserted that since a witness was no longer in their employ they could not be held bound to locate and to produce such a witness for depositions?
What a bunch of slick, slick, slick guys run this outfit!
A future close examination of past statements by Kennedy will reveal to what extent Kennedy places the emphasis on possible stock price manipulation as opposed to steering the company with integrity and letting the stock find its own level!
Should an injunction be sought against the First American Corporation restraining it from splitting the company until the courts have ruled over the cases filed against it?
Note that some of those cases have potential international implications.
Reminder: A subsidiary of the First American Corporation was accused of being at the root of and setting off the present international financial turmoil!
