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Activist Letters and Presentations

A curated feed of letters and presentations from activist investors.

activistletters

Barnwell Industries (BRN) — Ned Sherwood Nominates Five Directors, pushes O&G focus, NOL use, and overhead cuts after Q1 loss

Summary Ned L. Sherwood nominated five directors for Barnwell Industries’ 2025 board, calling for a turnaround and criticizing current leadership
Feb 19, 2025
activistletters

Ned Sherwood Sent A Letter To Shareholders Regarding Proposed Board Candidates

Dear Barnwell Industries Shareholders: On February 14, after repeated attempts to reach a mutually acceptable slate of directors for the
Feb 19, 2025
activistletters

U.S. Steel (X): Ancora Demands Books & Records, Challenges Nippon Deal Litigation and Flags CEO 10b5-1 Insider-Trading Concerns

Summary Ancora is demanding access to U.S. Steel’s books and records to investigate potential misconduct. It alleges the
Feb 18, 2025
activistletters

Ancora Sent Letter to the Board of Directors of U.S. Steel

Ancora Catalyst Institutional, LP c/o Ancora Alternatives LLC 6060 Parkland Blvd, Suite 200 Cleveland, Ohio 44124 BY EMAIL AND
Feb 18, 2025
activistletters

Barington Capital Challenges Matthews (MATW) Board, Calls Governance Reforms Reactionary and Pushes for Shareholder-Focused Directors

Summary Barington Capital urges Matthews International shareholders to vote “FOR” all three of its board nominees (Amicarella, Galbato, Mitarotonda), citing
Feb 18, 2025
activistletters

Barington Capital Sent Letter to Matthews International Shareholders

Barington Capital Responds to Matthews International’s Desperate Effort to Manipulate Board Election Urges Shareholders Not to be Fooled by
Feb 18, 2025
activistletters

Quanterix (QTRX): Kent Lake Slams Akoya (AKYA) Stock Merger as a Shareholder “Bailout,” Urges Vote Against and Refocus on Alzheimer’s Diagnostics

Summary Kent Lake, a top 5 shareholder of Quanterix, opposes the proposed merger with Akoya Biosciences, calling it a value-destructive
Feb 13, 2025
activistletters

Letter AGAINST the Proposed QTRX-AKYA Merger

* Dear Fellow Quanterix Shareholders: Kent Lake has been an institutional investor in Quanterix (“QTRX”, “The Company”) since 2022 and has
Feb 13, 2025
activistletters

Matthews International (MATW): Barington Capital Presses Shareholders to Back Its Board Nominees After ISS, Glass Lewis, and Egan-Jones Endorsements

Summary Barington Capital urges Matthews International shareholders to vote the GOLD proxy card for its three board nominees, citing long-term
Feb 12, 2025
activistletters

Barington Capital Sent Letter to Matthews International Shareholders

Barington Capital Sends Letter to Matthews International Shareholders Urging Them to Vote GOLD “FOR” the Election of ALL of Barington’
Feb 12, 2025
activistletters

Ancora Presses U.S. Steel (X) to End Nippon Deal Pursuit, Collect $565M Breakup Fee, and Replace CEO David Burritt with Alan Kestenbaum

Summary Ancora asserts that President Trump’s February 7th comments make it clear the sale of U.S. Steel to
Feb 10, 2025
activistletters

Ancora Issues Letter to U.S. Steel’s Board of Directors Following Failed Attempts to Resurrect the Dead Nippon Transaction

Asserts President Trump’s February 7th Remarks Make it Abundantly Clear a Sale to Nippon is Dead and Will Not
Feb 10, 2025
activistletters

Gate City Capital Pushes Intrepid Potash (IPI) to End Staggered Board, Urges Shareholders to Support Annual Director Elections

Summary Gate City Capital, owning 5.97% of Intrepid Potash, has submitted a shareholder proposal for the 2025 annual meeting
Feb 10, 2025
activistletters

Gate City Capital Management, LLC Sent Proposal Letter To The Corporate Secretary And Board Of Directors Of Intrepid Potash, Inc.

Dear Ms. Sheehan, Gate City Capital Management, LLC (“Gate City”) beneficially owns 785,642 shares, representing 5.97% of the
Feb 10, 2025
activistletters

BML Investment Partners Demands Aadi Bioscience (AADI) Books & Records Over Rejected Sale, $100M FYARRO Divestiture and Dilutive $100M PIPE, Citing Governance Concerns

Summary BML Investment Partners demands access to Aadi Bioscience’s records to investigate potential mismanagement and fiduciary breaches. They allege
Feb 4, 2025
activistletters

BML Investment Partners, L.P. Sent A Demand Letter To The Board Of Directors Of Aadi Biosciences, Inc.

Aadi Bioscience, Inc. Attn: Board of Directors c/o The Corporation Trust Company 17383 Sunset Boulevard, Suite A250 1209 Orange
Feb 4, 2025
activistletters

Beaver Hollow Wellness Challenges Servotronics (SVT) Board Over Excessive Executive Compensation and Governance Failures

Summary Beaver Hollow Wellness, LLC has demanded an internal investigation at Servotronics, citing excessive executive and board compensation (over $3M)
Jan 30, 2025
activistletters

Aadi Bioscience (AADI): BML Investment Partners Blasts Board Over PIPE Dilution and Rejected $5+ Takeout Offer

Summary BML Investment Partners (owns 9.9% of Aadi) criticized Aadi Biosciences' board for rejecting a full-company sale that
Jan 30, 2025
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