Indaba Capital Delivers Demand for Inspection of Books and Records of Tabula Rasa HealthCare, Pursuant to Section 220 of Delaware Law
Seeks Information to Investigate Potential Misconduct and Assess Each Director’s Independence, Adherence to Internal Policies and Performance of Fiduciary Duties
Highlights the Board’s Seemingly Conflicted Decisions, Including Allowing the Knowltons’ Value-Destructive Share Pledging and Lead Independent Director A. Gordon Tunstall’s Oddly Timed Share Sales
-
Chief Executive Officer and Chairman
Calvin H. Knowlton’s and President and DirectorOrsula V. Knowlton’s share pledges and forced sales; - Financial results and guidance;
- Directors’ adherence to the Company’s insider trading policy;
-
The Company’s agreement with Hope Healthcare Services, where director Dr.
Samira K. Beckwith serves as President and Chief Executive Officer; - Lead Independent Director A. Gordon Tunstall’s share sales, and;
- Potential conflicts of interest involving officers and/or members of the Board of Directors (the “Board”) and the Company’s governance policies.
Based on interactions with the Board, information included in the Company’s public filings and other publicly available information, Indaba believes this Books and Records request is critical to protect shareholders’ best interests. As noted in our
Accordingly, the Books and Records request will allow Indaba to investigate potential misconduct and assess individual directors’ independence, adherence to internal policies and performance of the Board and/or management’s fiduciary duties. As stated in our letter to the Company’s independent directors last week, we urge them to act with urgency and finally work with us in good faith to address shareholders’ concerns. We are committed to doing everything in our power and spending as much time as necessary in order to facilitate change atop Tabula Rasa.
Indaba’s
About
Indaba was founded in 2010 to invest in corporate equity and debt. Based in
View source version on businesswire.com: https://www.businesswire.com/news/home/20220727006025/en/
gmarose@longacresquare.com / bkirpalani@longacresquare.com
Source: