St. Joe Reports Informal SEC Inquiry of Impairments
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St. Joe Co., the largest private landholder in northern Florida, said it faces an informal inquiry by the U.S. Securities and Exchange Commission over its policies for impairing investment in real estate assets.
The notification by the SEC “does not indicate any allegations of wrongdoing,” and St. Joe will “cooperate fully,” the WaterSound, Florida-based company said today in a regulatory filing made after the close of regular U.S. trading. Its shares fell as much as 11 percent in after-hours trading.