Aug. 2 at 1:40 AM
$CLIR
I am shocked that no one has highlighted the fact that two of the long tenured CLIR Board members (Judith Schrecker and Catharine DeLacy) had over 68% of the shareholders withhold votes for them!! (see the 8k that came out Monday after the annual meeting last week.)
In other words, of the 26.5 million votes cast by shareholders (which doesn’t include the 10 million shares voted by brokers, but they can only vote for the auditor confirmation), only 32% of those voting shareholders voted FOR those two Directors. And since there is no option to vote AGAINST someone, the only way to communicate your displeasure is to “withhold” your vote…and the vast majority (68%) of the votes were “withheld"
My guess is that others were appalled at the revelation that those two (who led the Special Committee) spent at least
$450K on lawyer fees…and ended up expanding the Board to 7 (does a firm with 17 employees really need 7 Board Directors?!?)
