JANA Partners Statement on Freshpet’s Ill-Conceived Capital Raise
JANA Partners LLC (“JANA”) today issued the following statement in response to Freshpet, Inc.’s (“Freshpet” or the “Company”) (
NASDAQFRPT) equity-linked capital raise announced on March 14, 2023.
JANA Partners to Sue Zendesk to Set Annual Meeting Date; Comments on CNBC Report That Company Has Bungled Sale Process
JANA Partners LLC (“JANA”) today announced that it intends to sue Zendesk Inc. (
NYSEZEN) (“Zendesk” or the “Company”) for the Company’s failure to set a date for its 2022 annual meeting under Delaware General Corporation Law Section 211, which grants shareholders a right of action if a company fails to hold an annual meeting within 13 months of the prior year’s meeting. JANA also commented on today’s CNBC report that a sale process conducted by the Company’s Board of Directors (the “Board”) is unlikely to result in a transaction.
JANA Partners Comments on Zendesk’s Failure to Set Date and Hold Timely Annual Meeting
JANA Partners LLC (“JANA”) today commented on Zendesk Inc.’s (
NYSEZEN) (“Zendesk” or the “Company”) continued failure to set its annual meeting date. During its first quarter 2022 earnings call held April 28, Mikkel Svane, Zendesk’s Chief Executive Officer and Chairman of the Board of Directors (the “Board”), stated that Zendesk plans to hold its 2022 Annual Meeting of Shareholders (the “Annual Meeting”) on an unspecified date in the third quarter. This delay is the latest example of the Board’s governance failures, running afoul of Delaware law and opening the Company to potential litigation under Delaware General Corporation Law Section 211, which gives shareholders a right of action if a company fails to hold an annual meeting within 13 months of the prior year’s meeting. Zendesk held its 2021 Annual Meeting on May 18, 2021.
