ValueVision Media shoots down Clinton Group calls for board shake-up

|By:, SA News Editor

ValueVision Media (VTV) fires back at activist investor Clinton Group, who has been demanding a board shake-up for the past 2 weeks. The company replied that the hedge fund has no legal basis to push for board changes.

Clinton joined forced with another fund, Cannell Capital, to undertake a proxy battle that seeks to force out ValueVision's Chairman and the majority of the board. The two firms hold ~10.7% of shares outstanding.

ValueVision response letter, Clinton Group letter