Replies to post #19152 on The Melting Pot

[banker j]

May slap some... Look at this news for SHAR.

Cooper Stock Buy-Back Confirmed and Forward Split Update Marketwire "Press Releases"
COTTAGE GROVE, TN -- (MARKET WIRE) -- 06/21/11 -- Cooper Holding Corp (PINKSHEETS: SHAR), a publicly traded company engaged in the wholesale and retail sale of a diverse line of outdoor hunting and camping products, announced that a third party Affiliate has agreed to buy back stock that the Affiliate may have sold in violation of the Federal Securities Laws. The Company reached an agreement with the Affiliate over the weekend following its three-day investigation of the matter.

Prior to reaching the settlement, the Company launched an investigation to determine how millions of its shares were being sold into the market over the course of open market trading during the previous week. The result of the investigation indicated that the Affiliate may have sold the Company's stock in violation of the securities laws, through various entities each owned by the Affiliate.

Dan Cooper , the Company's CEO, said that the Company's Board of Directors believes this is the best result for the Company's shareholders. "A buy-back of our stock could not have happened without our investigation, which we initiated to protect our shareholders. The Board of Directors felt quite strongly that we had to take immediate action to protect them and we proceeded to do so in an effective and efficient manner."

Pursuant to the settlement, over the course of the next month, the Affiliate will buy back all of the Company's stock that it sold into the market.

In addition to the buy-back of the Company's stock, the Company announced that it is following through with its previously announced two for one forward split. The Company has submitted documents to the Secretary of State of Delaware to register its forward split of the Company's common stock at a ratio of two shares for every one share that is held by the Company's shareholders.

The forward split will apply to the shareholders of record at the close of business on July 5, 2011 (the "record date") with distribution taking place on July 15, 2011 , subject to FINRA approval.