Investor Boosts First Executive Stake: Los Angeles...
From Times Staff and Wire Reports
Investor Boosts First Executive Stake: Los Angeles investor David T. Smith, who has been accumulating First Executive Corp. depositary preference shares, has acquired 5.7% or 588,800 shares of the Los Angeles-based insurer’s series G cumulative convertible preferred stock as well. Neither series of stock carries voting rights. Smith, who owns 9.5% of the troubled insurer’s depositary preference shares, is chairman and chief executive of D. T. Smith Inc., a Los Angeles real estate developer.
