Today Altai Capital sent a letter to the board Amber Road (NYSE: AMBR) in which, among other things, Altai expressed its loss of faith in AMBR's Board and management’s commitment to protect shareholder interests and maximize value given AMBR's poor performance, repeated growth projection misses, and unwillingness to engage with E2open which wanted to acquire AMBR at what remains a premium to AMBR’s trading price. Further, the Altai demanded that the Board form an independent committee and engage financial advisors immediately in order to sell AMBR. Altai concluded the Letter to the Board with a commitment to take action, including nominating independent directors to the Board if necessary, if the Board refuses to pursue a strategic review. You can find the full letter here.
Subscribers of 13D Alerts received an email alert when this letter was filed with the SEC along with the 13D filing.
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Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article does not at the time of writing have any positions in AMBR, but may potentially purchase shares pending further analysis and market conditions.