Haights Cross' Stockholder Lawsuit

March 2007
Educational Marketer;3/19/2007, Vol. 38 Issue 6, p4
Trade Publication
The article reports on the lawsuit filed by Haights Cross' (HC) Series B preferred stockholders against the company at the Delaware Court of Chancery in Delaware. Investors claim that the management has failed to pay more than $ 40 million in dividends and point out that the company is unwilling to reverse the trend toward insolvency or salvage value for investors to pursue a sale. On the other hand, company executives maintain the firm's financial structure precludes payment of dividends.


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