You can read about all this stuff here: http://newsplusnotes.blogspot.com/2010/ ... -fair.html
From what it seems, Cedar Fair was sued by its largest investor Q Investments for not allowing a proxy vote on the separation of CEO and Chairmen of the Board, along with the amount of my paid out in yearly dividends. Cedar Fair will hold the vote on January 11, 2011 but this is too long according to Q Investments. That article is right here: http://www.sanduskyregister.com/sandusk ... cedar-fair
Q Investments is also asking other unit holders to demand a change showing the fallowing graph of the performance of Cedar Fair versus the S&P 500 stock firm.
Cedar Fair has been shooting letters off to Q Investments about how they feel with what the investment firm wants, the letters are in a lot of legal terms but here are the links:
1. http://www.sec.gov/Archives/edgar/data/ ... efa14a.htm
2. http://www.sec.gov/Archives/edgar/data/ ... 190/pr.htm
Even Jake Falfas's name came up in the dispute. Cedar Fair said the COO resigned, Q Investments says he was terminated with out just cause.
http://www.sec.gov/Archives/edgar/data/ ... efa14a.htm
Q Investments responded with this,
http://www.sec.gov/Archives/edgar/data/ ... irltrs.htm
December 20, 2010
The Board of Directors
Cedar Fair, L.P.
One Cedar Point Drive
Sandusky, Ohio 44870-5259
Dear Gentlemen:
In your response letter dated December 17th to us, you say, "The COO resigned." We say he left under "curious circumstances." You then criticized us for using this characterization of the event saying "we should have known better."
In the attached letter that Mr. Falfas' attorney provided to us and sent to the company on June 14, 2010, he makes it clear that he did not resign but was terminated. Clearly there is a difference of opinion here as to what happened, and there is an ongoing dispute. You also filed with the SEC a statement that Mr. Falfas resigned but did not mention that Mr. Falfas disagreed vehemently with your view of what happened.
Why don't we let the other unitholders and the court of public opinion decide whose characterization of the event is more accurate -- yours or ours! Conveniently omitting facts to win an argument is not the way to run a business. When were you planning on coming clean and telling people the real story?
Sincerely yours,
Q Funding III & Q4 Funding
The Board of Directors
Cedar Fair, L.P.
One Cedar Point Drive
Sandusky, Ohio 44870-5259
Dear Gentlemen:
In your response letter dated December 17th to us, you say, "The COO resigned." We say he left under "curious circumstances." You then criticized us for using this characterization of the event saying "we should have known better."
In the attached letter that Mr. Falfas' attorney provided to us and sent to the company on June 14, 2010, he makes it clear that he did not resign but was terminated. Clearly there is a difference of opinion here as to what happened, and there is an ongoing dispute. You also filed with the SEC a statement that Mr. Falfas resigned but did not mention that Mr. Falfas disagreed vehemently with your view of what happened.
Why don't we let the other unitholders and the court of public opinion decide whose characterization of the event is more accurate -- yours or ours! Conveniently omitting facts to win an argument is not the way to run a business. When were you planning on coming clean and telling people the real story?
Sincerely yours,
Q Funding III & Q4 Funding
So, there is that big old ugly issue. Lets see what comes out of it.