Genesee Corp Suspends Reverse Split

Genesee Corporation (Nasdaq: GENBB) announced Friday that it has indefinitely suspended the proposal that was described in the preliminary proxy statement that the Corporation filed with the Securities and Exchange Commission on December 24, 2002 for a 1 for 500 reverse split of the Corporation's Class A and Class B common stock. The Corporation also announced that its Board of Directors has declared a partial liquidating distribution of $2.50 per share, payable on March 17, 2003 to Class A and Class B shareholders of record on March 10, 2003. The partial liquidating distribution announced t...