The Company believes the verdicts should be vacated or a new trial ordered, and intends to pursue all available post-trial remedies. However, the Company cannot give any assurance as to the outcome of these efforts.As a result of the jury verdict, the Company has recorded an increase to its loss contingency reserve of $12.7 million in the fourth quarter of 2012, which is reflected in Impairment and Other Losses. The Company has adjusted its net income available to common shareholders and earnings per share (EPS) and Funds from Operations Available to Common Shareholders and Unitholders (FFO) and FFO per share for the quarter and year ended December 31, 2012, which was previously reported by the Company on January 24, 2013. The Company’s adjusted financial statements for the quarter and year ended December 31, 2012 are attached to this press release.
Colonial Properties Trust Sells Metropolitan Midtown For $94 Million
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