A New York law firm filed suit against St. Joe Company and alleges 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.They are talking about one of the largest land-owners/developers in the State of Florida, a company that has affected the crash and burn of Florida's economy. Most of the company’s land is located in the panhandle and their success depends on development there.
The St. Joe Company ( JOE ) is a land development company headquartered in Jacksonville, Florida. It is Florida's second largest private landowner, owning about 585,000 acres (2,370 km2) in the state at the end of 2009.
People will eventually wake up to how they were fooled by lies and money from the Vote NO group to defeat Amendment 4.
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