Tuesday Morning adding activist investor to board
October 3, 2017
James Corcoran, CEO of Purple Mountain Capital Partners, will be nominated as an independent director to Tuesday’s Morning’s board. The decision was made to avert a proxy battle with Purple Mountain and Jeereddi Partners, two hedge funds that own 2.4 percent of the 720-store chain’s stock. Mr. Corcoran believes the chain has “untapped potential” and the company needs to do a better job of “delivering value” to its stockholders.
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