Kellner Group Issued Statement In Connection With Their Efforts To Bring Accountability To The AIM ImmunoTech Board Of Directors
Portfolio Pulse from Benzinga Newsdesk
The Delaware Court of Chancery ruled in favor of Mr. Kellner, finding four advance notice bylaw provisions adopted by AIM ImmunoTech's Board in March 2023 invalid. These provisions were deemed to entrench incumbents and thwart proxy contests, potentially affecting future board elections and governance.
January 03, 2024 | 9:17 pm
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AIM ImmunoTech may face increased vulnerability to proxy contests and changes in board governance following the court ruling against its bylaw provisions.
The court ruling invalidating AIM ImmunoTech's bylaw provisions could lead to increased chances of proxy contests and changes in board composition, which may unsettle investors and negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100