Rubric Capital Management Sends Letter To Xperi; Says That After Years Of Underperformance Both Before And After The Spin-Off, Incumbent Directors David Habiger And Darcy Antonellis Cannot Be Trusted To Help Xperi Achieve Its Goals And Deliver Value For Stockholders
Portfolio Pulse from Benzinga Newsdesk
Rubric Capital Management has sent a letter to Xperi stockholders urging them to replace incumbent directors David Habiger and Darcy Antonellis with Rubric's nominees, Thomas A. Lacey and Deborah S. Conrad, at the upcoming Annual Meeting of Stockholders on May 24, 2024. Rubric, which owns approximately 9.0% of Xperi's outstanding shares, argues that the current directors have led to years of underperformance and cannot be trusted to deliver value for stockholders.
May 16, 2024 | 2:28 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Rubric Capital Management is urging Xperi stockholders to replace incumbent directors due to years of underperformance. Rubric, owning 9.0% of Xperi's shares, believes new directors can create meaningful value.
Rubric Capital's significant ownership stake and public call for change could lead to positive short-term price movement as investors may anticipate improved governance and performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100