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Stock Market & Financial Investment News

News Breaks
July 22, 2014
14:35 EDTITGPhiladelphia Financial reports 6.3% stake in ITG, seeks CEO change or sale
Philadelphia Financial acquired their shares of Common Stock based upon their view that the stock is trading below its intrinsic value due to inappropriate management of the company by its current CEO. Philadelphia Financial seeks to influence the board of directors of the company to change the CEO and or to sell the company to another company thereby achieving gains in Common Stock of the company for the current shareholders. The actions of Philadelphia Financial are based upon a detailed and complex analysis of the company, its operations, financial results, competitive environment, the general economic environment in which it operates, securities markets in general and the market for the company’s securities in particular as well as other factors. Accordingly, Philadelphia Financial reserves the right to change its intentions and develop new or different proposals at any time as it deems appropriate.
News For ITG From The Last 14 Days
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November 16, 2015
19:15 EDTITGITG says chairperson Maureen O'Hara to retire
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November 12, 2015
15:37 EDTITGVoce Capital reports 8.6% stake in ITG
On November 3, Voce Capital entered into a Joint Filing and Group Agreement, for the purpose of (i) engaging in private discussions with the Issuer regarding operating results, cost and capital allocation, opportunities to enhance shareholder value and corporate governance, including board composition, and related matters, (ii) taking all other action with respect to the foregoing, and (iii) taking any other actions Voce Capital determines to undertake in connection with their respective investments in the Company, all to the extent permitted by the Cooperation Agreement. The foregoing summary of the Joint Filing and Group Agreement is qualified in its entirety by reference to the full text of the Joint Filing and Group Agreement, a copy of which is attached hereto as Exhibit 2 and is incorporated by reference herein.

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