AIM Immmunotech rejects activist investor's board nominations; shares down
18/07/2022 15:38
** Shares of drug developer AIM ImmunoTech AIM.A fall as
much as 3.75% to 73 cents
** Co board rejects activist investor Jonathan Jorgl's two
nominations for its three-member board, that it received in a
notice on July 8 urn:newsml:reuters.com:*:nGNE4vBvbh
** Co has filed a complaint in the U.S. District Court for
the Middle District of Florida, Ocala Division, against seven
defendants, including Jorgl, his nominees and others part of the
activist group
** "These individuals have failed to register as a group
pursuant to U.S. securities laws and have committed other
unlawful actions in the context of their attempt to effectuate a
takeover of Co’s Board" - AIM
** Stock down 17.4% so far this year
(Reporting by Nandhini Srinivasan in Bengaluru)
((Nandhini.srinivasan@thomsonrueters.com))
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