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WCI Communities forms restructuring committee

By Associated Press
June 13, 2008 | Comments (0)

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Upscale homebuilder WCI Communities Inc. said Friday its board of directors formed a special committee to evaluate alternative restructuring proposals.

The special committee consists of Don E. Ackerman, the committee chairman, Charles E. Cobb Jr., Hilliard M. Eure III, and Jonathan R. Macey. The company previously disclosed that it retained Lazard Freres & Co. as its financial advisor to assist the development of restructuring plans.

Shares of WCI rose 4 cents, or 2.6 percent, to close regular trading at $1.56, then added another 4 cents, or 2.6 percent, to $1.60 in aftermarket electronic trading.

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