LivePerson welcomes contributions from all stakeholders. Since Starboard first disclosed its investment in the company in late February 2022. LivePerson’s board members and management team have continuously engaged constructively with Starboard to better understand its views and to serve Starboard’s best interests. all shareholders. LivePerson sets the record for collaboration with proposed directors.
Our board and management have a long history of thoughtfully implementing change to serve the best interests of the company and its shareholders. Our strong history of purposeful development of our business has enabled us to maintain long-term market leadership in the highly dynamic digital consumer experience space. That same commitment fuels our award-winning innovation and company culture. Which has recently earned us recognition as one of Inc.’s
The use of these terms became commonplace when English merchant ships sailed to several countries in the sixteenth and seventeenth centuries AD.
During the era of colonization, these concepts were widely accepted by sailors in countries from India to the United States. Finally, with the creation of regulatory bodies to develop a single code for maritime terminology, the terms starboard, and starboard adopt due to their widespread use.
Consistent with the board renewal process and building on our good relationship with Starboard, we have committed to Starboard to engage its nominees in this process and have repeatedly requested interviews. Identifying and recommending new LivePerson board members is a process we take seriously. In order to fulfill our fiduciary responsibilities. We must meet with board candidates to understand what skills. Expertise, commitment, and contributions an individual can bring to the board and the company.
Starboard value first notified us of its presence as a new shareholder as well as director nominations in late February 2022, the latest possible date in the LivePerson nomination window. Starboard’s last-minute announcement of its nominees, together with Starboard’s position. It prevents our board from conducting interviews with proposed board nominees. Affected the timing of our 2022 annual meeting compared to last year’s meeting date.
Regardless of how Starboard may twist the facts to suit its narrative. LivePerson remains committed to a constructive dialogue with Starboard. We drive our focus on serving the best interests of all shareholders first and foremost.
The Board will submit its recommendations regarding director nominees for election at the Company’s 2022 annual meeting in the Company’s definitive proxy statement. The accompanying GOLD proxy card, and other relevant documents to be filed with the SEC.
While the pressure on profits from a shareholder-activist may sound like a win-win situation for companies and their employees. It often means prioritizing short-term winnings over long-term strategies for business success. The self-serving approach taken by Starboard and other activists has led to less than stellar records of creating thriving businesses. The Harvard Business Review states that once activist hedge funds take over the company, “activists will reduce staff by an average of 12%, while R&D will be reduced by more than half.”
Experts who specialize in helping companies fight hedge funds such as Starboard value warn that investor-activists risk losing everything if they dismiss key experienced directors or cancel long-term renewal strategies.
Those who have spent some time in the market may be familiar with many activist hedge funds. Some funds are very public about their management struggles, while others are extremely quiet about their activities.
Hedge fund tracking
Hedge funds can be mysterious on the surface. But the SEC mandates a certain level of transparency — especially when it comes to activist hedge funds. Through these SEC filings, we can see the actions taken by activist hedge funds.
You can find SEC filings using the official EDGAR database or other free services such as SECFilings. Which allow you to set up email alerts and RSS alerts to send you alerts when hedge funds make trades.
While investing alongside hedge funds is not a guaranteed way to make money. It is a great way to find opportunities. By thoroughly analyzing the conditions of deals and proposals. It is possible for smart investors to find attractive short-term and long-term investment opportunities.
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