Cost Plus Terminates Shareholders' Rights Plan

April 17, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on April 18, 2010 The board of directors for Cost Plus (CPWM) has terminated its shareholder rights plan.

"The board regularly evaluates the effectiveness of and the need for a rights plan, and is always striving to improve our corporate governance in an effort to improve long-term shareholder value," said Barry Feld, president and chief executive officer. "The board has determined that the plan is unnecessary at this time."

The action accelerated the expiration date of the retailer's current shareholder rights plan to April 14. The plan had been originally due to expire June 30. In taking this action, the board reserved the right to take any future action determined in the exercise of its fiduciary duties to be necessary or advisable to protect the interests of shareholders.

Cost Plus, Inc. runs 263 stores in 30 states.