Aurinia Pharmaceuticals Shareholder Urges Board Of Directors To Take Action To Enhance Shareholder Value; Outlines Concerns Regarding The Company's Current Strategy And Board Composition And Offers Superior Paths To Improving Performance And Market Penetration
Portfolio Pulse from Benzinga Newsdesk
Lucien Selce, owning 2.2% of Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH), criticizes the company's board and strategy, particularly in market penetration of Lupkynis and board composition. Selce suggests reducing the board size, linking management compensation to revenue goals, and developing strategic partnerships. He highlights the board's failures, including poor communication, irrelevant skill sets of directors, and questionable decisions by CEO Peter Greenleaf. Selce calls for immediate board restructuring before the Annual General Meeting to enhance shareholder value.
May 07, 2024 | 1:18 pm
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Lucien Selce's public criticism and suggestions for Aurinia Pharmaceuticals Inc. (AUPH) could lead to increased scrutiny of the company's governance and strategy, potentially affecting its stock price.
Selce's letter may raise concerns among investors regarding Aurinia's current strategy and governance, potentially leading to volatility in the stock price. However, the impact is uncertain as it depends on the board's response and investor perception.
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