A proposal on the agenda of Symantec’s Sept. 23 annual meeting calls for lowering the threshold of how much an investor owns of the company’s stock in order to have the right to call for a special meeting. Rather than listing the name of the stockholder putting forth the proposal, along with the number of Read the rest of this entry »
Cannabis Science, the San Francisco company dedicated to developing medicines derived from marijuana, filled in a bit more detail on why it fired former Chief Executive Steve Kubby last week in a filing today with the SEC. The company has authorized an internal investigation and “review by counsel” of Kubby’s “apparently fraudulent Read the rest of this entry »
Kana Software, who’s largest shareholder cried foul after the company announced on June 17 that it would hold its annual meeting four weeks later on July 15 thereby depriving the investor of a chance to nominate its own director to Kana’s board, evidently had second thoughts.
In a press release dated June 25 but not filed with the Securities and Exchange Commission until today, Kana said Read the rest of this entry »
The Securities and Exchange Commission said today it has proposed revisions to some of its rules related to proxy disclosures that the Commission says would include information about:
The proposals are also intended to Read the rest of this entry »
Bruce Peacock resigned today from the board of directors after serving less than two years there, where he also chaired its audit committee and was deemed its “financial expert” as defined by SEC rules. The resignation would leave the company with only two directors serving on its audit committee, a technical violation of a Nasdaq requirement that it be staffed by at least three independent directors.
Peacock, a venture partner at SV Life Sciences Advisers since Read the rest of this entry »
The board of directors at Electronics for Imaging apparently batted 1.000 at the company’s annual meeting Friday when all the directors were reelected and all the proposals the board submitted to its shareholders for a vote passed.
But the perfect record obscured the fact that Read the rest of this entry »
Kana Software’s second largest investor cried foul Monday, alleging that its board of directors was acting unfairly “to hold an uncontested election in troubled times and in the face of stockholder dissatisfaction” in a complaint it filed seeking to postpone the Menlo Park company’s annual meeting.
KVO Capital Management, a New Hampshire investment firm that holds 3.35 million shares, or 8.1 percent, of Kana, said it was blind sided Read the rest of this entry »
KVO Capital Management, the investment firm that advised the management of Kana Software in November that it “would be well served to consider significant changes in business strategy and corporate governance,” today nominated its own candidate for the one director slot up for election to Kana’s classified board at its annual meeting scheduled for July 15.
KVO’s candidate, Melvin Keating, would face off against Read the rest of this entry »
IPass, the Redwood City developer of business-mobility software whose board has spent much of the last two years struggling with large and disgruntled investors, has agreed to “take steps to return to shareholders” up to $40 million, according to a deal it has reached with Foxhill Master Fund. Foxhill, which owns about 7 percent of iPass’s outstanding shares, had launched a proxy battle to declassify the iPass board, forcing all directors to stand for re-election each year rather than serving in various overlapping terms. It also nominated three people of its own choosing to serve on the iPass board.
One of the three, Kenneth Traub, has been Read the rest of this entry »
Altigen Communications, the Fremont provider of Internet phone systems that had scheduled a special shareholders meeting for Tuesday to seek approval of a new equity incentive plan and employee stock purchase program, postponed the meeting late Friday in order “to provide adequate time for AltiGen to present additional information to its stockholders in light of certain recent public comments made by one of the company’s existing stockholders,” according to a press release the company put out.
The “existing shareholder” making the public comments would be Read the rest of this entry »
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