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Tuesday, Aug 27
Engaged Capital sends a letter to AeroVironment's Board
- Engaged Capital says it's sent a letter to Aerovironment's (AVAV -1.9%) Board of Directors, expressing its disappointment in the board's failure to engage in constructive dialogue over the company's gross valuation discount, as well as its failure to seriously consider its independent director nominee and to provide proper governance and protections for the rights of its shareholders.
- Engaged's Chief Investment Officer Glenn Welling notes, “AeroVironment’s failure to deliver meaningful shareholder returns over any relevant time period is a clear indication of a need for change."