Red Oak Partners, LLC, a long-term investor in Educational Development Corporation (NASDAQ: EDUC) and the largest outside investor with a 7.7% ownership stake, announced today that it has issued a letter to the Board of Directors (“BOD” or the “Board”) of EDUC expressing serious concerns with the Company’s troubling corporate governance practices, Board composition, and misaligned management incentive plan proposal and Red Oak’s intention to oppose the election of the Class II directors and the proposed management equity incentive plan at the upcoming 2018 Annual Meeting scheduled to be held on July 24th. Red Oak has also called upon EDUC’s Board to work with its shareholders to address the significant concerns regarding EDUC’s corporate governance practices.
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