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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ladenburg Thalmann Financial Services Inc | AMEX:LTS | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.49 | 0 | 01:00:00 |
CUSIP No. 50575Q 10 2
|
13D/A
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Page
2
of 6
|
1
|
NAMES OF REPORTING PERSONS
Vector Group Ltd.
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|||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
|||
(see instructions)
|
(a)
|
|||
(b)
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||||
3
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SEC USE ONLY
|
|||
4
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SOURCE OF FUNDS (see instructions)
OO
|
|||
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
|
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6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
|
7
|
SOLE VOTING POWER
15,191,205 Shares
(1)
|
||
8
|
SHARED VOTING POWER
-0-
|
|||
9
|
SOLE DISPOSITIVE POWER
15,191,205 Shares
(1)
|
|||
10
|
SHARED DISPOSITIVE POWER
-0-
|
|||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,191,205 Shares
(1)
|
|||
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (see instructions)
|
|||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.8%
(2)
|
|||
14
|
TYPE OF REPORTING PERSON (see instructions)
CO; HC
|
1.
|
Sole voting power and dispositive power of 300,000 of such shares is held indirectly through control of Accommodations Acquisition Corporation, a Delaware corporation and a subsidiary of Vector Group Ltd.
|
2.
|
The calculation of the percentage is based on 193,892,686 Common Shares outstanding as of November 3, 2016, as reported on the Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 (the “Q3 2016 10-Q”), filed on November 7, 2016.
|
CUSIP No. 50575Q 10 2
|
13D/A
|
Page
3
of 6
|
(b), (c)
|
Vector is a holding company and is principally engaged in:
|
•
|
the manufacture and sale of cigarettes in the United States through its Liggett Group LLC and Vector Tobacco Inc. subsidiaries,
|
•
|
the sale of electronic cigarettes in the United States through its Zoom E-Cigs LLC subsidiary, and
|
•
|
the real estate business through its New Valley subsidiary, which is seeking to acquire or invest in additional real estate properties or projects. New Valley owns 70.59% of Douglas Elliman, which operates the largest residential brokerage company in the New York metropolitan area.
|
CUSIP No. 50575Q 10 2
|
13D/A
|
Page
4
of 6
|
(a)
|
As of the date hereof, Vector beneficially owns 15,191,205 shares of Common Stock of the Company, which constitutes approximately 7.8% of the Company’s outstanding shares of common stock (as reported in the Q3 2016 10-Q). Subsequent to the transfer of the New Valley Shares described in Item 3 above, New Valley no longer beneficially owns any shares of Common Stock of the Company.
|
CUSIP No. 50575Q 10 2
|
13D/A
|
Page
5
of 6
|
(b)
|
As of the date hereof, with respect to the 15,191,205 shares of Common Stock held by Vector, Vector exercises both sole voting power and sole dispositive power. To the knowledge of the Reporting Person, none of the directors and executive officers of the Reporting Person may be deemed to exercise voting power and dispositive power with respect to such shares.
|
(c)
|
None of the Reporting Person, and to the knowledge of the Reporting Person, none of its directors and executive officers, has effected any transactions in the Common Stock of the Company in the past 60 days, other than (i) the description of Vector’s exercise of the Warrants contained in Item 3, which is incorporated by reference in this Item 5, (ii) the exercise of a stock option for 20,000 shares of Common Stock, at an exercise price of $1.39 per share, by Jeffrey S. Podell on October 27, 2016, (iii) the exercise of a stock option for 20,000 shares of Common Stock, at an exercise price of $1.39 per share, by Howard M. Lorber on October 28, 2016, and (iv) the purchase of 10,000 shares of Common Stock in the open market, at a weighted average purchase price of $1.86 per share, by Richard J. Lampen on November 9, 2016.
|
(d)
|
No other person has the right or power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock owned by the Reporting Person or, to the knowledge of the Reporting Person, by its directors and executive officers.
|
(e)
|
New Valley ceased to be a Reporting Person following New Valley’s disposition of all of the New Valley Shares then owned by it through a transfer to Vector , its parent company.
|
CUSIP No. 50575Q 10 2
|
13D/A
|
Page
6
of 6
|
Dated as of December 16, 2016
|
|
|
|
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VECTOR GROUP LTD.
|
|
|
|
|
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By:
/s/ J. Bryant Kirkland III
|
|
|
Name: J. Bryant Kirkland III
|
|
|
Title: Senior Vice President, Chief Financial Officer and Treasurer
|
Vector
|
|
|
|
Name
|
Present Principal Occupation or Employment; Business Address
|
|
|
Howard M. Lorber
|
Director; President and Chief Executive Officer
|
Richard J. Lampen
|
Executive Vice President
|
J. Bryant Kirkland III
|
Senior Vice President, Treasurer and Chief Financial Officer
|
Marc N. Bell
|
Senior Vice President, Secretary and General Counsel
|
Ronald J. Bernstein
|
Director; President and Chief Executive Officer of Liggett Vector Brands LLC and Liggett Group LLC
|
Bennett S. LeBow
|
Director; Chairman of the Board and Private Investor
|
Stanley S. Arkin
|
Founding and Senior Partner, Arkin Solbakken LLP and Chairman of The Arkin Group LLC
|
Henry C. Beinstein
|
Director; Partner, Gagnon Securities LLC, 1370 Avenue of the Americas, New York, NY 10019
|
Jeffrey S. Podell
|
Director; Private Investor, 7338 Floranada Way, Delray Beach, FL 33446
|
Jean E. Sharpe
|
Director; private investor, 350 Cherry Street, Bedford Hills, NY 10507
|
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