Jana Partners Calls On Freshpet Board To Immediately Rectify Highly Entrenching Actions Intended To Disenfranchise Shareholders And Manipulate Shareholder Vote
Portfolio Pulse from Happy Mohamed
JANA Partners, which owns 9.3% of Freshpet (NASDAQ: FRPT), has accused the company's board of violating Delaware law and fiduciary duties by making changes to the board's size and composition ahead of the contested 2023 annual meeting. JANA has demanded that the board rectify its corporate governance failures and allow shareholders to participate in a fair election of directors.
May 25, 2023 | 3:14 pm
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JANA Partners accuses Freshpet's board of violating Delaware law and fiduciary duties, demanding fair election of directors, which may lead to increased scrutiny and potential short-term stock price volatility.
JANA Partners' accusations against Freshpet's board may lead to increased scrutiny of the company's corporate governance practices, which could negatively impact investor sentiment and cause short-term stock price volatility. As JANA Partners owns a significant 9.3% stake in Freshpet, their actions and statements carry considerable weight and may influence other shareholders.
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