Charles & Colvard Says Purported Nomination Of Director Candidates By A Riverstyx Principal Is Invalid And That Nominations Will Not Be Recognized
Portfolio Pulse from Benzinga Newsdesk
Charles & Colvard announced that the nomination of director candidates by Ben Franklin, a principal of Riverstyx Capital Management, is invalid and will not be recognized for the upcoming Annual Meeting.
October 07, 2024 | 8:37 pm
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Charles & Colvard has declared the nomination of director candidates by Riverstyx Capital Management as invalid, indicating a potential governance dispute.
The invalidation of director nominations by a significant shareholder could indicate underlying governance issues or disputes, which may affect investor sentiment. However, the immediate impact on stock price is uncertain as it depends on further developments.
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