LandAmerica Delays 3Q Results

LandAmerica Financial Group Inc., Richmond, Va., has delayed the release of its third quarter 2008 results. The company was supposed to release them on Nov. 5, but in the early evening hours of that day the company issued a statement saying, "The release has been delayed to allow LandAmerica additional time to complete the preparation and review of its financial statements for the third quarter." As a result, the company cancelled its investor call scheduled for Nov. 6. LandAmerica said it plans to file its Form 10-Q with the Securities and Exchange Commission by its due date of Nov. 10 and would release third quarter results concurrently with that filing. The news displeased investors, who drove LandAmerica's stock well below its old 52-week low in morning trading on Nov. 6. The stock, which hit its most recent peak of $24.25 on Sept. 30, fell to $4.72 at 11:20 a.m., down $2.52.