May 22, 2024 activistcompany

Radoff Criticizes Board and Opposes Re-election of Key Directors at Identiv, Inc. (INVE)

Key Summary: On March 20, 2025, Bradley L. Radoff (6.2%) criticized the Board for devaluing stockholder investments and opposed re-electing Chairman James E. Ousley and Director Gary Kremen. He plans to vote against all director candidates at the 2025 Annual Meeting if no changes are made. On April 28, 2023, Bleichroeder (12.5%) discussed with the board chairman the need for a strategic review of the company's divisions, a move later confirmed by the company's May 4, 2023 earnings call. On May 22, 2024, with increased ownership at 19.9%, Bleichroeder backed the sale of certain operations to Hawk Acquisition, Inc., but opposed Gary Kremen's re-election to the board, intending to vote against him at the 2024 Annual Meeting of Stockholders.

Market Cap: $77 million| Identiv, Inc. operates as a security technology company that secures things, data, and physical places in the Americas, Europe, the Middle East, and the Ableichroeder-l-p-opposes-reelection-of-gary-kremen-to-identiv-inc-inve-boardsia-Pacific.

Bradley L. Radoff

On March 20, 2025, Bradley L. Radoff (6.2%) criticized the Board for devaluing stockholder investments by selling only part of the company's operations, leaving an underperforming business with significant cash burn and negative enterprise value. They opposed re-electing Chairman James E. Ousley and Director Gary Kremen at the upcoming 2025 Annual Meeting, advocating for their resignation. If these changes aren't made, they plan to vote against all director candidates at the meeting and will engage with the company, stockholders, and other stakeholders on these matters. Source

Bleichroeder

On April 28, 2023, Bleichroeder (12.5%) engaged in a discussion with the Chairman of the board to discuss the strategic direction of the company. Specifically, Bleichroeder proposed that the Board consider conducting a strategic review with respect to the company's business divisions. As stated on its May 4, 2023 earnings call, the company has been undertaking such a review with respect to its business units. Source
On May 22, 2024, Bleichroeder (19.9%) sent a letter to the Board supporting the sale of certain operations to Hawk Acquisition, Inc. However, they do not back the re-election of Gary Kremen to the board of directors and plan to vote against him at the 2024 Annual Meeting of Stockholders.

More like this

Daniel J. Mangless nominated Board candidates to Zevra Therapeutics (ZVRA)

H Partners Launches Withhold Campaign Against Harley-Davidson (HOG) Board

Meruelo Offers Board Role After Discussing Debt Plans with Bausch Health Companies (BHC)

Pontifax Management entered into a Letter Agreement with Keros Therapeutics, Inc (KROS)

The Founders Group, comprising Ransom and Valerie Wuller, Luis Dussan, and Pamela Bauer nominated Board candidates to AEye, Inc (LIDR)

Edge One Capital Management to Engage with BuzzFeed, Inc (BZFD)