- Form an Independent Committee with Independent Counsel and an Independent Financial Advisor to immediately pursue strategic alternatives;
- Cease all asset acquisition and disposition activity until the conclusion of the independent strategic review;
- Cease all equity offerings in CWH or indirectly through its majority owned subsidiary, Select Income REIT;
- Do not seek to amend, in any way more favorable to REIT Management and Research LLC ("RMR"), the existing management agreement between CWH and RMR; and
- Authorize, if you have not already done so, the Independent Trustees to retain their own independent counsel. Given the internal conflicts of interest we currently perceive at the Board level, we believe that CWH counsel cannot adequately represent the Independent Trustees and therefore that the Independent Trustees cannot adequately represent shareholders.
Luxor Capital Group Announces Its Disapproval Of CommonWealth REIT Decision To Move Forward With Its Offering
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