Sandell Threatens Ethan Allen with Proxy Fight

August 27, 2015  by in Financial Reports, Industry   

Sandell, in Wednesday’s letter, reiterated its plans to nominate a slate of directors.

This is the second letter the group has sent in two weeks. Earlier this month, Sandell was urging the company to either sale or recapitalize the business.

The most recent letter outlines Sandell’s dismay that the company isn’t willing to discuss concerns for another three weeks. Ethan Allen’s annual meeting is set for Nov. 25, during which nominated directors will stand for election.

“While we prefer to reach a cordial resolution addressing our concerns and avoid the need for a proxy contest, this requires the Company to engage in a timely and robust dialogue with us,” the letter said. “We do not view waiting until the second week in September as timely by any stretch of the imagination. Should the Company, like us, prefer to resolve this matter without the distraction and expense of a proxy fight, we ask it to enter into discussions with us immediately.”