New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 10, 2014
12:23 EDTCLFCasblanca Capital condemns Cliffs Natural's compensation practices in letter
Casablanca Capital LP, the beneficial owner of approximately 5.2% of Cliffs Natural Resources, issued a letter to shareholders in connection with Casablanca’s campaign for fundamental change at Cliffs and its nomination of six director candidates for election to the Board of Directors at the company’s upcoming 2014 Annual Meeting of Shareholders on July 29. In the letter, Casablanca details escalating management compensation while shareholder returns have plummeted, the opaque nature of the management bonus and review process, and the ways in which bonus compensation metrics have changed from year to year in an apparent effort by the Cliffs Board to justify management bonuses despite severe underperformance. Casablanca reiterates that, in contrast to the current 0.3% of Cliffs shares that the current Board and management team owns, Casablanca has economically aligned itself with the interests of fellow shareholders, with Casablanca owning 5.2% of Cliffs shares and with Lourenco Goncalves’ personal investment of $1.5M in Cliffs’ shares. Donald Drapkin, Chairman of Casablanca said, “The Cliffs Board and management team have been pursuing their own personal agendas and enrichment at the expense of shareholders for far too long. It is time for the gravy train to end and for the Board to be held accountable. We are confident that on July 29 Cliffs’ shareholders will vote to support a slate of new directors who will reverse the outrageous value destruction and stop the pattern of excessive compensation and self-dealing at Cliffs.”
News For CLF From The Last 14 Days
Check below for free stories on CLF the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 28, 2014
16:00 EDTCLFOptions Update; August 28, 2014
Subscribe for More Information
09:57 EDTCLFCliffs Natural falls, levels to watch
Subscribe for More Information
August 25, 2014
18:07 EDTCLFCliffs Natural CEO supports sale of non-core assets 'at right price,' WSJ says
Subscribe for More Information
11:31 EDTCLFCliffs Natural announces $200M share repurchase plan
Subscribe for More Information
August 22, 2014
10:34 EDTCLFStocks with call strike movement; UAL CLF
United Continental (UAL) September 55 call option implied volatility decreased 6% to 39, Cliffs Natural (CLF) September 18 call option implied volatility increased 3% to 41 according to IVolatility.
August 15, 2014
08:36 EDTCLFCliffs pays $11M to Halverson in connection with employment termination
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use