RE:RE:RE:RE:RE:RE:AIM.PR.CThe problem is pref shareholder litigation if the dividends are in arrears when pref stock is bought back. The C suite and BoD don't exactly have a great track record with their largest common stock holder. Could you imagine if they then ruin their relationship with preferred stock holders?
"We are going to stop paying the dividend, crash the preferred price then buyback on the cheap" sounds great until the regulators and lawyers get involved. Suddenly securities manipulation charges void officer and director insurance...