Moab Partners Supports Ancora Advisors' Proposal for a 1:1 Conversion of
Lennar's Class B Shares
NEW YORK, Nov. 2, 2012 (GLOBE NEWSWIRE) -- Moab Capital Partners, LLC ("Moab
Capital") today announces that it is in agreement with Ancora Advisors'
recommendation to the Board of Directors of Lennar Corporation ("Lennar" or
the "Company") to allow Class B Common Stockholders of Lennar to forego their
super-voting rights and convert into more liquid Class A shares at a 1 to 1
As a long term Lennar Class B shareholder and one of the largest holders of
Lennar Class B shares after Stuart Miller, Moab Capital has also been
frustrated by the lack of interest on behalf of the Lennar's Board of
Directors to address the growing dislocation in one of the company's publicly
traded securities. Moab Capital believes that several possible remedies exist
to address this disparity, and believes that the Board of Directors should
take the appropriate steps to rectify this issue.
About Moab Capital Partners, LLC
Moab Capital is an SEC-registered independent investment advisor founded in
2006 and is located in New York, NY.
CONTACT: Richard Silberberg: (212) 981-2645, email@example.com
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