Susan Arendt
Culture

Shareholders Furious at Atari Board Restructuring

Atari shareholder Coghill Capital Management is hopping mad about Infogrames’ recent replacement of five Atari board members. In a filing with the SEC, CCM declares"these actions were taken without cause, without notice and without a shareholders’ meeting." CCM went on to say that Infogrames’ actions were the culmination of the company’s "oppression of public shareholders." […]

Atari_2
Atari shareholder Coghill Capital Management is hopping mad about Infogrames' recent replacement of five Atari board members. In a filing with the SEC, CCM declares"these actions were taken without cause, without notice and without a shareholders' meeting." CCM went on to say that Infogrames' actions were the culmination of the company's "oppression of public shareholders."

CCM has issued a list of demands to Infogrames, including:

[T]hat the Issuer's Board of Directors immediately reconstitute itself with a majority of independent directors, re-establish an independent audit committee, put an end to the sweetheart agreements with Infogrames, and seek compensation from Infogrames and the Issuer's management for the serious damage they have caused both the Issuer and its public shareholders.

Investor fury at Atari board shakeup [GamesIndustry]