LogicMark, Announces Adoption Of Shareholder Rights Agreement With Nevada Agency And Transfer Company To Protect Shareholder Rights And Long-Term Shareholder Value
Portfolio Pulse from Benzinga Newsdesk
LogicMark, Inc. has adopted a Shareholder Rights Agreement with Nevada Agency and Transfer Company to protect shareholder rights and long-term value. This move is in response to Winvest Investment Fund Management Corp.'s claims of owning 67% of LogicMark's stock and attempts to change company bylaws, which LogicMark disputes.
November 01, 2024 | 8:47 pm
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LogicMark has implemented a Shareholder Rights Agreement to counteract Winvest's claims of majority ownership and attempts to alter company bylaws. This move aims to protect shareholder rights and long-term value.
The adoption of the Rights Agreement is a defensive measure by LogicMark to protect against potential hostile actions by Winvest, which claims majority ownership. This could stabilize investor confidence but also indicates potential legal and corporate governance challenges.
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