activistletters
BML’s Braden Leonard Opposes Aadi Biosciences (AADI) PIPE Financing, Urges Sale or Cash Return to Shareholders
Summary
BML Investment Partners (9.9% owner) strongly opposes Aadi Bioscience’s December 19, 2024 PIPE-financed “AADI 2.0” plan,
activistletters
Fund 1 Investments Proposes Acquisition of Destination XL (DXLG), Citing Retail Strength and Liquidity Challenges
Summary
Fund 1 Investments submitted a non-binding proposal to acquire all outstanding shares of Destination XL Group (DXLG) it does
activistletters
Goodwood Inc. Targets COSCIENS Biopharma (CSCI) Over Cash Burn, Weak Strategy, and Board Accountability
Summary
Goodwood, owning 8.2% of COSCIENS, criticizes the board for burning $11.6M cash in nine months while generating
activistletters
Goodwood Inc. Sent A Letter To Cosciens Biopharma Inc.
Letter Dated December 19, 2024 From Goodwood, Inc. To Cosciens Biopharma Inc.
GOODWOOD INC.
132 Trafalgar Road
Oakville, Ontario
L6J
activistletters
Lamb Weston (LW): JANA Partners Urges Board and Leadership Overhaul, Warns Sale Should Be Considered
Summary
JANA Partners (5%+ holder) demands significant board and leadership change at Lamb Weston, citing years of underperformance, self-inflicted operational
activistletters
Marlton Partners Challenges 180 Degree Capital (TURN) Board, Urges Capital Return Plan to Eliminate NAV Discount
Summary
Marlton, owning a significant stake in TURN, criticizes CEO/Chair Kevin Rendino and the board for destroying value—NAV
activistletters
Marlton Partners Pushes for Board Change at 180 Degree Capital (TURN), Citing -37% NAV Decline and Governance Failures
Summary
Marlton Partners, owning shares in 180 Degree Capital (TURN), criticizes CEO/Chair Kevin Rendino and the Board for seven
activistletters
Atea Pharmaceuticals (AVIR): BML Investment Partners (8.1% Holder) Urges Strategic Partner Before Phase 3 Trial
Summary
BML Investment Partners (8.1% holder of Atea Pharmaceuticals) questions the lack of insider confidence following favorable Phase 2
activistletters
ModivCare (MODV): Q Investments (14% Holder) Pushes for Board Refresh, Leadership Evaluation, and Strategic Review
Summary
Q Investments (14% shareholder and debt holder of ModivCare) welcomes the December 13 resignations of Chairman Shackelton and director
activistletters
Gabelli Urges Myers Industries (MYE) to Pursue Signature Systems Spin/IPO, Highlighting Undervalued Assets and Capital Allocation Potential
Summary
Gabelli Funds’ December 2024 presentation argues that Myers Industries (MYE) is significantly undervalued and could nearly double in enterprise
activistletters
Stadium Capital Urges Board Overhaul at Sleep Number (SNBR), Citing Backing From Holders of 45% of Shares
Summary
Stadium Capital urges long-tenured Sleep Number directors Stephen Gulis, Michael Harrison, Shelly Ibach, Brenda Lauderback, and Barbara Matas to
activistletters
Daktronics (DAKT) Faces Alta Fox Push for CEO/Chair Split, Poison Pill Removal, and Path to $40+ Share Price
Summary
Alta Fox (12% holder) is pushing for major governance and leadership changes at Daktronics, citing severe underperformance under CEO/
activistletters
Matthews International (MATW): Barington Capital Seeks CEO Change, Divestitures, and Board Refresh After Years of Underperformance
Summary
Barington (shareholder since 2022) criticizes Matthews’ 18-year CEO Joseph Bartolacci for massive underperformance—just 8.9% TSR vs 629%
activistletters
Nut Tree and Caspian Urge Martin Midstream (MMLP) Unitholders to Reject MRMC Merger, Citing Undervaluation and Conflicts of Interest
Summary
Nut Tree and Caspian urge Martin Midstream Partners (MMLP) unitholders to reject MRMC’s $4.02/unit buyout, calling
activistletters
Barington Capital and Thor Equities Urge Macy’s (NYSE: M) to Cut Capex, Form Real Estate Subsidiary, and Accelerate Buybacks to Unlock Shareholder Value
Summary
Barington and Thor argue that Macy’s is undervalued due to ineffective execution and excessive capex, with shares down
activistletters
Barington and Thor Urge Macy’s (M) to Restructure Capital Allocation, Unlock Real Estate Value, and Add Board Representation
Summary
Barington Capital and Thor Equities (shareholders of Macy’s) argue that Macy’s stock is deeply undervalued and has
activistletters
Stadium Capital (11.7% Holder) Nominates Four Directors to Sleep Number (SNBR) Board, Slams Governance and CEO Search Process
Summary
Stadium Capital, Sleep Number’s largest shareholder (11.7%), has nominated four directors—Patrick Hopf, Jeffrey Jackson, Jessica Prager,
activistletters
Nut Tree and Caspian (13.2%) Urge Martin Midstream Partners (MMLP) Unitholders to Reject $4.02 Insider Buyout as Deeply Undervalued
Summary
Nut Tree Capital and Caspian Capital, holding a combined 13.2% stake in Martin Midstream Partners (MMLP), are urging
