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Article: Adaptec Urges Stockholders to Reject Minority Stockholder's Proposals by Signing the GOLD Consent Revocation Card.(Company overview)
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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Adaptec, Inc. (Nasdaq:ADPT), the global leader in I/O innovation, today commented on new reports by RiskMetrics Group and Proxy Governance, Inc., as well as an earlier report by Glass, Lewis & Co.
"We are puzzled at recommendations that stockholders consent to proposals that would give a hedge fund, Steel Partners II L.P., highly disproportionate control of the Adaptec Board," said Douglas E. Van Houweling, Chairman of Adaptec's Governance and Nominating Committee.
"The bottom line for stockholders concerned about the value of their investment should be this: they can choose between a Board majority and a CEO who have track records of exploring all ...