Seeking Alpha

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

  • 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
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