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June 18, 2014
14:01 EDTVVTVClinton Group says ValueVision investors vote for change in board
Clinton Group commented on the preliminary vote tallies from the 2014 annual meeting of shareholders of ValueVision Media noting that shareholders have expressed overwhelming support for change in the composition of the Board of Directors. Clinton Group expects that once the election results are certified, six of the eight directors of ValueVision will have joined the Board in 2014. "According to our analysis of the votes that were cast, we believe that every institutional investor, mutual fund, hedge fund and other professional investment organization, save one, among ValueVision's top twenty-five owners voted for change this year," said Gregory P. Taxin, President of Clinton Group. "We are pleased that four of our nominees received support from more than 70% of the shares voted by public shareholders and were elected to the Board." Taxin continued, "The election results are a clear message from shareholders that ValueVision needs to chart a different course, under new leadership. We are confident that there will be a solid, cohesive majority on the Board to implement the changes to strategy and management shareholders have demanded."
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