Activist Letter to Management – Example

Here is a letter written to management by an activist investor.  Note: it was also filed with the SEC as part of a 13D filing.

Activists are organized and have done their homework.  They prey on fear of the Street.  The key to defending your self is to identify the key points and have bulletproof responses to each thesis point.  If your response to each point is not strong, therein lies the battle.

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