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- Turtle Creek Asset Management said on Monday it had issued an open letter to the board of directors of Gildan Activewear (NYSE:GIL).
- The activist investor urged the Canadian apparel maker to "call the special meeting without delay."
- "The Company’s latest disclosures suggest it may seize on a purported “foot fault”, under the guise of protecting “shareholder value”, to deny shareholder Browning West’s requisition for a Meeting," said Turtle Creek.
- GIL has been under pressure from key shareholders including Browning West and Turtle Creek Asset Management following the removal of co-founder Glenn Chamandy as CEO.
More on Gildan Activewear
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- Gildan Activewear Inc. (GIL) Q3 2023 Earnings Call Transcript
- Gildan Activewear accuses Chamandy of dereliction of duty, conflicts of interest
- New Gildan Activewear CEO moves up start date as activist investors turn up the heat (update)
- Seeking Alpha’s Quant Rating on Gildan Activewear