Numerous lawsuits have been filed in 2008 claiming that Municipal Mortgage & Equity LLC management intentionally misrepresented the value of the company's assets and its profits. As a result, the stock price was artificially inflated and subsequently declined sharply. Named in the lawsuit are most of the major corporate officers, including the audit committee.
Also known as MuniMae, the company was delisted from the New York Stock Exchange in February 2008, former trading symbol: MMAB. Shares can be purchased via the "pink sheets". Daily Record, The (Baltimore, MD), May 06, 2008
According to a press release dated January 31, 2008, the complaint charges that MMA and certain of its present and former officers, directors, and control persons violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements pertaining to MMA's business prospects, financial condition, and financial performance.
full story here
Lawsuits have the disadvantage of taking corporate officers' time away from running the business in order to defend themselves; they take corporate funds to defend them; they lower market confidence in the company and make it harder to obtain business credit and loans for operations; and they can result in the sale of corporate assets if penalized.
We are concerned citizens who endorse sustainable energy goals, but not at the expense of the health of our children, not at the expense of our agricultural industries, and not at the expense of more pollution to our island. Pepeekeo residents reside within 1.7 miles from the plant, and this poses a significant health risk from pollutants, creates a nuisance from noise, and a safety issue from excessive traffic.
Upcoming Meetings
- HuHonua, 8/13/08
- Jay Ignacio, Helco 8/14/08
- Tues 8/5/08 7pm Susan's
- Mayor Kim Thurs 7/31/2008 1:30 pm
- Wed 7/16/08 7pm Susan's
About Me
- Elaine
- Local environmental activist.
Honoring HCPC Workers
- 1889-1946 Plantation Archives
- 2000 Baptista, Former HCPC Employee
- 2001 De Coito, Retired Heavy-Equip Operator
- 2001 Hasegawa, Ret Service Truck Driver HCPC
- 2001 Hiramoto, Ret Laborer HCPC
- 2001 Salas, Cane Truck Driver HCPC
- 2002 Barlongo, Ret Tractor Operator HCPC
- 2002 Cambra - Former Heavy Equip Operator
- 2002 Carvalho, Retired HCPC Truck Driver
- 2002 Fujii, Ret Garage Supervisor HCPC
- 2002 Fujitake, Ret Land Containment Emp HCPC
- 2002 Matsuoka, Ret Mechanic HCPC
- 2002 Panem - Former Crane Operator
- 2002 Sakuda, Ret Cane Truck Driver HCPC
- 2002 Santiago, Ret Cane Truck Driver HCPC
- 2002 Tsujii - Ret Boiler Room Crew Chief HCPC
- 2002 Tsunoda, Former Harvesting Supervisor
- 2003 Alicuben - Former Power Mower Operator
- 2003 Deriza, Ret Heavy Equip Operator HCPC
- 2003 Inaba, Ret Electrician HCPC
- 2003 Jose, Ret HCPC Employee
- 2003 Kawakami, Ret Flume Foreman HCPC
- 2003 Lyons, Ret Harvesting Supervisor HCPC
- 2003 Namauu, Former Heavy Equip Operator HCPC
- 2003 Paiva, Ret Construction Supervisor HCPC
- 2003 Tavares, Former HCPC Employee
- 2004 Adviento, Retired HCPC Employee
- 2004 Cabasa, Ret HCPC Crane Operator
- 2004 Carvalho, Ret HCPC Truck Control Coordinator
- 2004 DeMello, Ret Scale Clerk HCPC
- 2004 Raymond, Former HCPC Shift Superintendent
- 2005 Acoba, Retired Plant Electrician
- 2005 Collins, Former HCPC Cane Truck Driver
- 2005 Company Hopes to Restart Plant
- 2005 Kubo, Ret HCPC Garage Warehouse Supervisor
- 2005 Lapenia - HCPC Former Whse Clerk
- 2005 Murai, Ret. Factory Supervisor
- 2005 Sakuma - Ret. Millworker HCPC
- 2005 Shin - Former HCPC Truck Driver
- 2005 Vierra - Forrmer HCPC Cane Truck Driver
- 2006 Amaral - Retired Heavy Equipment Operator
- 2006 Koyanagi, Ret Mill Worker HCPC
- 2006 Navidad, Ret HCPC Mill Crew Chief Operator
- 2006 Oyama, Ret HCPC Employee
- 2006 Shimasaki, Ret HCPC Truck Driver
- 2006 Shishido, Ret HCPC Employee
- 2006 Sison, Ret HCPC Mechanic
- 2007 Camero Ret HCPC Mechanic Supervisor
- 2007 Maja, Ret HCPC Employee
- 2007 Okaji, Ret Cane Truck Driver HCPC
- 2007 Quiocho, Retired HCPC Employee
- 2008 Austria - Former Heavy Equipment Operator
- 2008 Forbes, Ret Harvesting Superintendent HCPC
- 2008 Hiura, Ret HCPC Employee
- 2008 Pacheco - Former HCPC Welder
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