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Amber Road pushes back on Altai nominations

Apr. 09, 2019 11:01 AM ETAmber Road, Inc. (AMBR) StockBy: Brandy Betz, SA News Editor
  • Amber Road (NYSE:AMBR) stakeholder Altai Capital Management nominates two board candidates for potential election at the annual meeting on May 7. Altai cites concerns with AMBR's "irresponsible handling" of last year's E2open acquisition proposal and its "egregious executive compensation."
  • Amber Road sent out a letter asking shareholders to vote for the company's board candidates.
  • AMBR says Altai pressured the company to sell to E2open without fully disclosing Altai's economic interest in the firm.
  • Key quote: "Altai Capital Osprey ... is attempting to derail our progress by electing its own nominees to the Board to pursue Altai's agenda that we believe is misaligned with the interests of the rest of our stockholders."
  • Amber Road shares are up 1.5% to $8.82.

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