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Activist Letters and Presentations

A curated feed of letters and presentations from activist investors.

activistletters

Sherwood Group Presses Barnwell Industries (BRN) for Board Reform, Cites Shareholder Support and Urges Resolution Amid Governance Concerns

Sherwood Group Reiterates Concerns Regarding Barnwell Board Process and Urges Constructive Resolution Vero Beach, Florida, June 20, 2025 – The Sherwood
Jun 20, 2025
activistletters

Hartman Shareholder Alliance Blames Silver Star Properties REIT (SLVS) Collapse on Leadership, Pushes for Return of Proven Team

Summary On June 19, 2025, the Hartman Shareholder Alliance attributed Silver Star Properties REIT’s collapse to failed leadership following
Jun 20, 2025
activistletters

Hartman Shareholder Alliance Blames Silver Star Properties REIT (SLVS) Collapse on Leadership Failures, Urges Return of Proven Team to Restore Value

Subject: Silver Star’s Collapse Isn’t a Mystery — It’s a Leadership Problem June 19, 2025 Dear Fellow Shareholder,
Jun 20, 2025
activistletters

Silver Star Properties (SLVS): Al Hartman Slams Haddock-Led Board for Governance Failures, Urges Shareholders to Vote for Change

Summary On June 18, 2025, Al Hartman and the Hartman Shareholder Alliance informed Silver Star Properties REIT shareholders that legal
Jun 18, 2025
activistletters

Hartman Shareholder Alliance Criticizes Silver Star Properties REIT (SLVS) for Blocking Shareholder Vote, Urges Support in Proxy Battle for Accountability

Dear Shareholders, At the heart of any legitimate investment company—especially a REIT—is accountability to its shareholders. When we
Jun 18, 2025
activistletters

Regional Health Properties (RHE): Largest Investor Criticizes CEO Brent Morrison for Blocking Credible Acquisition Bid at 99% Premium

Summary On June 18, 2025, Charles Frischer, Regional Health Properties’ largest common and preferred shareholder, urged the Board to engage
Jun 18, 2025
activistletters

Charles Frischer Urges Regional Health Properties (RHE) Board to Pursue $4.00/Share Buyout Offer, Criticizes SunLink Merger Plan

June 18, 2025 Board of Directors Regional Health Properties, Inc. 1050 Crown Pointe Parkway Suite #720 Atlanta, GA 30338 Dear
Jun 18, 2025
activistletters

Land & Buildings Takes Short Position in National Healthcare (NHC), Predicts Value Destruction in NHI Lease Talks

Summary Land & Buildings warned that National Healthcare Corp. (NHC) faces major downside risk as its long-standing, below-market lease with
Jun 17, 2025
activistletters

Land & Buildings Warns National Healthcare Corp. (NHC) Faces Up to 38% EBITDA Hit in Lease Standoff with National Health Investors (NHI)

Download LetterLand & Building-National Healthcare-Jun-17-2025.pdf268 KBdownload-circle Source: https://landandbuildings.com/wp-content/uploads/2025/06/LandB-NHC-Press-Release-6-17-25.pdf
Jun 17, 2025
activistletters

AstroNova (ALOT): Askeladden Capital Presses Governance Overhaul, Seeks Board Change and Strategic Alternatives

Summary On June 17, 2025, Askeladden Capital issued a detailed letter to AstroNova shareholders defending its nominees and criticizing the
Jun 17, 2025
activistletters

Askeladden Capital Challenges AstroNova (ALOT) Board Over Strategy, Governance, and Capital Allocation in Proxy Fight

Dear AstroNova Shareholders, Askeladden’s recent town hall offered shareholders something the incumbent Board won’t: direct, transparent engagement and
Jun 17, 2025
activistletters

180 Degree Capital (TURN): Marlton Partners Slams Board Mismanagement, Calls Special Meeting for Director Elections

Summary On June 17, 2025, Marlton Partners and affiliated TURN shareholders, owning over 10% of 180 Degree Capital Corp. (NASDAQ:
Jun 17, 2025
activistletters

Marlton Partners Demands Special Meeting at 180 Degree Capital (TURN), Citing Governance Failures and Mount Logan Deal Concerns

Marlton Partners Delivers Demand that 180 Degree Capital Corp Call Special Meeting for the Election of Directors TURN’s Ongoing
Jun 17, 2025
activistletters

Silver Star Properties (SLVS): Al Hartman Calls for Disciplined Liquidation and Capital Return, Criticizes Current Leadership’s Value Destruction

Summary On June 17, 2025, the Hartman Shareholder Alliance criticized Silver Star Properties’ asset liquidation strategy, calling it a case
Jun 17, 2025
activistletters

Hartman Shareholder Alliance Blasts Silver Star Properties REIT (SLVS) for Mismanaged Asset Sales, Urges Vote for Disciplined Liquidation and Capital Return

June 17, 2025 When Assets Are Mismanaged, Shareholders Pay the Price Dear Fellow Shareholder, Let’s look at the facts
Jun 17, 2025
activistletters

Victoria’s Secret (VSCO) Faces Barington Capital Criticism Over $2.4B Value Loss, Weak Strategy, and Governance Failures

Summary Barington Capital, a >1% shareholder of Victoria’s Secret, expressed concern over the company’s significant underperformance since
Jun 16, 2025
activistletters

Barington Capital Criticizes Victoria’s Secret (VSCO) Over Governance, Strategic Drift, and $2.4B Value Destruction

Download LetterBarington-Victoria-Jun-16-2025.pdf599 KBdownload-circle Source: https://img1.wsimg.com/blobby/go/23431eee-32b7-41bf-b572-6a3046271716/downloads/3679fbc9-27d8-4668-ac1b-ffe30f0d2b07/Victoria_s%20Secret%20Co%20-%20Letter%
Jun 16, 2025
activistletters

Oportun (OPRT) Faces Proxy Fight as Findell Capital Pushes Board Refresh, Nominates Warren Wilcox to Drive Oversight and Value

Summary Findell Capital Partners, Oportun’s largest shareholder, contends that years of poor governance, unchecked costs, and ill-conceived acquisitions—most
Jun 16, 2025
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