Shah Capital Withdraws Proxy Campaign Against Re-election Of Directors At Novavax's 2024 Annual Meeting, Shah Capital Management Collectively Beneficially Owns ~7.9% Of Novavax's Shares, Making It A Top Three And Largest Non-index Stockholder
Portfolio Pulse from Benzinga Newsdesk
Shah Capital has withdrawn its proxy campaign against the re-election of directors at Novavax's 2024 annual meeting. Shah Capital Management owns approximately 7.9% of Novavax's shares, making it one of the top three and the largest non-index stockholder.
May 20, 2024 | 10:36 am
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Shah Capital has withdrawn its proxy campaign against the re-election of directors at Novavax's 2024 annual meeting. This move could stabilize investor sentiment and reduce potential governance-related uncertainties.
The withdrawal of the proxy campaign by a significant shareholder like Shah Capital can be seen as a positive development. It reduces potential conflicts and uncertainties related to corporate governance, which can stabilize investor sentiment and potentially support the stock price in the short term.
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