Proxy advisory firms Glass Lewis and ISS recommended that Aterian shareholders approve the sale of substantially all asset portfolios to Trademark Global. Additionally, the firms recommended favoring an all-cash acquisition of Kneat by Thoma Bravo at $6.50 per share. However, a July 20 investigation by FTI Consulting uncovered conflicts of interest and fraudulent activities involving an activist investor and dissident nominees.
An FTI Consulting probe uncovered fraud and conflicts of interest among dissident nominees, leading shareholders to reject proposed board changes.
Read the full storyProxy advisors ISS and Glass Lewis recommend Kneat shareholders approve the $6.50 per share all-cash buyout by private equity firm Thoma Bravo.
Glass Lewis and ISS have urged Aterian stockholders to approve the sale of brand portfolios to Trademark Global as part of a strategic restructuring.