- Longtime Yelp (NYSE:YELP) shareholder SQN Investors writes a letter pushing the board to add new members and consider all options to get back on track, including a potential sale, according to the WSJ.
- Yelp says the media saw SQN's letter first but that the company is committed to open dialogue with shareholders and regularly evaluates new business opportunities.
- SQN has held Yelp since 2015 and currently has a 4% stake, which puts it among the top five largest shareholders.
- Last month, Yelp's earnings report missed revenue estimates and cut forecasts driven by lower local ad sales.
- Yelp shares are up 1.6% premarket to $35.14.