Tensions continue between Deckers and key investor
25/10/2017
In September, Marcato nominated 10 candidates to replace the entire Deckers board after growing frustrated by the delay in finding a buyer for the group. It had threatened to do this in June when calling for Deckers to be sold.
In the lawsuit, Marcato asked the court to force Deckers to hold its annual meeting on December 14. The company warned that refusal to approve its nominees could trigger a change in control that would result in financial penalties for the company.
In response, Deckers said in a statement: “Our Annual Meeting of Stockholders is already scheduled for December 14, 2017. Marcato’s lawsuit is unnecessary, a distraction from our successful transformation, and a self-serving attempt to advance its own interests at the expense of all other stockholders.”
Earlier this month, Marcato raised its stake in Deckers from 6% to 8.4%.
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