New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 29, 2014
16:04 EDTVMEMViolin Memory reports Q1 EPS (25c), consensus (25c)
Reports Q1 revenue $18.1M, consensus $23.1M.
News For VMEM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 30, 2015
10:05 EDTVMEMHigh option volume stocks
Subscribe for More Information
09:32 EDTVMEMClinton Group sends letter to Violin Memory board
Clinton Group, a stockholder of Violin Memory, Inc., announced that it has sent a letter to the Company's Board of Directors. Clinton says "We have been stockholders in Violin Memory, Inc. for almost two years and have followed the Company's progress since its initial public offering. Additionally, since the Company's last earnings release, we have increased our ownership of the Company's stock. We continue to believe that the Company has leading edge technology and are convinced that the Flash Storage Platform addresses the significant enterprise demand for all-flash arrays at a performance level and cost superior to legacy disk systems. As you know, we requested a meeting with a subset of the Board of Directors to discuss a number of topics germane to creating shareholder value. We believe that a productive meeting benefiting the Company's shareholders can be held without your stated need of a nondisclosure agreement. Your refusal to hold a meeting with an interested shareholder like us in the ordinary course is disappointing. Also disappointing is your insinuation that our motivations for shareholder returns are short-term in nature. Truth be told, our first purchase in the common stock of Violin months after the IPO came at a 50% premium to today's prevailing market prices. Our 2014 settlement agreement pursuant to our proxy contest is further evidence of our willingness to let the Board and new management execute their business plan for a period of time...We believe that we have made a credible attempt to have a constructive dialogue with you about our ideas to create shareholder value. We hope the Company will take us up on our offer. If the Company's sales execution does not materially improve and our voice continues to remain unheard, we will have to seriously consider seeking the election of replacements to the Company's Board of Directors at the next annual meeting. We would be happy to take our case to shareholders and put the Company's record up for debate."
July 21, 2015
12:07 EDTVMEMViolin marketing director blogs about flash optimized platforms
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 disclaimer & terms of use