|
|
Article: Lennar Corporation Suggests Formula for Allocating Tax Basis Between Class A And Class B Common Stock.
- Article from:
- PR Newswire
- Article date:
- April 22, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Lennar Corporation announced today a suggested formula for stockholders to use in allocating their tax basis in Lennar Class A Common Stock (formerly called "Common Stock") between their Class A Common Stock and the Class B Common Stock they received as a result of a distribution yesterday of one share of Class B Common Stock for each ten shares of Class A Common Stock or Class B Common Stock held at the close of business on April 9, 2003.
Lennar said it had been advised that one permissible way of allocating basis would be by comparing the value of one share of Class A Common Stock and the value of one-tenth of a share of Class B Common Stock to the combined ...