Camac Partners increased its stake in Liberated Syndication (LSYN)

Key Summary: Between April and October 2019, Camac Fund (initially 6.3%) led an activist campaign at Liberated Syndication, seeking to call a special meeting to remove all directors, elect five independents, and improve governance, citing poor management, dilution, and compensation issues. By July, Camac had secured enough support and formally initiated the special meeting process. Proxy materials were filed in August. A settlement was reached on October 4, 2019, adding Eric Shahinian, Brad Tirpak, and an independent director to the Board, in return for Camac withdrawing its requests and litigation. By June 2021, Camac’s stake had risen to 12.2%.