Snow Park Capital Partners, which has nominated three candidates for Front Yard Residential's (NYSE:RESI) board, says Glass Lewis recommends that stockholders vote to elect two of its nominees--Leland Abrams and Lazar Nikolic--to Front Yard's board.
Institutional Shareholders Service had already endorsed a majority of Snow Park's nominees, including Snow Park founder Jeffrey Pierce.
Snow Park is pushing for a change at Front Yard, citing the company's "$500M in value destruction since 2015" and its recent amended external management agreement with Altisource Asset Management Corp.
Previously: Front Yard Residential signs new pact with AAMC; Q1 core FFO in-line (May 8)
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