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Home | News | 2017 | Wintergreen Advisers Cites Complete Victory in Settlement with Consolidated-Tomoka Land

For the period ending March 31, 2019, the Fund's 1-year, 5-year, 10-year, and since inception (10/17/05) average annual returns for the Investor Class were -6.51%, -0.65%, 8.29%, and 4.54%, respectively, and the 1-year, 5-year, and since inception (12/30/11) average annual return for the Institutional Class were -6.32%, -0.41%, and 3.23%, respectively. Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Shares redeemed within 60 days of purchase are subject to a 2.00% redemption fee. As stated in the current prospectus, the Fund's total annual operating expense ratio for Investor Class shares (WGRNX) is 1.95%, and Institutional Class shares (WGRIX) is 1.70%. Click here to view the Fund's most recent month-end performance data.

Wintergreen Advisers Cites Complete Victory in Settlement with Consolidated-Tomoka Land

March 8, 2017

Mountain Lakes, NJ - (Business Wire) - On March 6, 2017, Wintergreen Advisers, LLC ("Wintergreen") and Consolidated-Tomoka Land Co. ("CTO", NYSE: CTO) and its directors (collectively, the "Defendants") entered into a settlement agreement whereby CTO shareholders will be permitted to vote on Wintergreen's nominees to CTO's Board of Directors at CTO's 2017 Annual Meeting. This is exactly the relief Wintergreen requested in its complaint against the Defendants and Wintergreen views the settlement as a complete victory, both for itself and for all CTO shareholders.

Wintergreen serves as investment adviser to clients who have collectively owned more than 10% of CTO's shares since 2006 and who currently own more than 27.1% of CTO's shares. In November of 2016, Wintergreen notified CTO of its nomination of four individuals to serve on CTO's Board and to be voted on by shareholders. Rather than engage Wintergreen on the merits, CTO sought to reject Wintergreen's right to nominate directors, effectively taking away the ability of CTO shareholders to choose their own directors. Although Wintergreen attempted in good faith to negotiate with CTO, ultimately Wintergreen was forced to defend its shareholder rights in court.

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