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News Breaks
July 2, 2014
10:07 EDTSFLYShutterfly trades higher after earlier report it is seeking a buyer
The stock gapped up at the open and traded to a high of $50.46 before moving lower. That session high remains resistance. At the current price of $49.40 next support is at $48.10, the low of the day. Bloomberg reported that the company has engaged Qatalyst Partners to find a buyer.
News For SFLY From The Last 14 Days
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May 29, 2015
11:08 EDTSFLYMarathon comments on recent settlment discussions with Shutterfly
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05:11 EDTSFLYShutterfly urges holders to vote for all of company's board nominees
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May 27, 2015
07:36 EDTSFLYShutterfly establishes new guidelines for 2015, 2016 executive compensation
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May 26, 2015
15:10 EDTSFLYMarathon urges Shutterfly not to manipulate voting mechanics at 2015 meeting
On May 26, Andrew Freedman of Olshan Frome Wolosky, on behalf of Marathon Partners, delivered a letter to Shutterflys' counsel, Gordon K. Davidson of Fenwick & West LLP. The letter said in part : "I am writing as counsel to Marathon Partners Equity Management in response to the open letter to stockholders that was issued by your client, Shutterfly, on May 22, in which Shutterfly requested permission from Marathon Partners and its three director candidates for the use of a universal proxy card in connection with the voting at the upcoming 2015 Annual Meeting of Stockholders scheduled to be held on June 12...If the Board was truly interested in the good governance aspects of using a universal proxy card and not furthering its own self-serving agenda, then why did the Board not propose this type of voting mechanism months ago? It would have been much more appropriate for you or your client to have suggested the use of a universal proxy card before both sides spent significant time and resources to print and mail definitive proxy materials and solicit votes on their respective proxy cards...To be clear, we fully understand the potential benefits and virtues of a universal proxy card in a proxy contest where the parties have worked out the logistics well in advance of delivering their respective proxy materials to stockholders. In such a scenario, a universal proxy card could undoubtedly facilitate the stockholder franchise by allowing stockholders to select from all nominated director candidates on a single proxy card. Marathon Partners has received, and continues to receive, significant stockholder support to date for its platform and its nominees on the blue proxy card. We urge the Board not to take any actions to manipulate the timing or voting mechanics at the 2015 Annual Meeting, and we reserve all rights on behalf of Marathon Partners to take whatever actions it deems necessary to protect the stockholder franchise and ensure that the 2015 Annual Meeting is held in a manner that is fair and in the best interests of all stockholders."
May 19, 2015
16:53 EDTSFLYGoogle near to launching new web photo service, Bloomberg says
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May 18, 2015
09:06 EDTSFLYMarathon Partners comments on Shutterfly compensation plan
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