LifeVantage Proxy Contest
Dissident campaign gathers steam at micro-cap
Bradley L. Radoff and Sudbury Capital Fund, LP (as well as other participants) filed a solicitation today informing shareholders that both ISS and Glass Lewis have now recommended support for one of their three board nominees at the forthcoming LifeVantage (LFVN) AGM.
The Radoff-Sudbury group had filed a solicitation last Thursday disclosing ISS recommendations, which recommend shareholders oppose the incumbent Chair of the LFVN board to make room for dissident nominee Dayton Judd. Likewise, with today’s filing, investors found out that Glass Lewis has also thrown their recommended support behind Judd. Unlike ISS, however, Glass Lewis believes incumbent LFVN director (and Chair of the Comp Committee) Michael Beindorff should not be reelected.
Bios of named incumbents and dissident nominee below:
See also a solicitation that LifeVantage filed today, noting the shared challenges direct selling peers have faced over the last six years:
Other materials include the Radoff-Sudbury group deck filed subsequent to their PREC14A, and the original PREC14A from LifeVantage. Note that Radoff-Sudbury is also recommending shareholders vote against Proposal 5:
The contest will be held next Monday, November 6.
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