Geeknet Continues its Non-Insider Shareholder Hostile Campaign, Item 9B SEC Form 10-K
What's wrong with this picture? Is Scott Kauffman the right CEO to maximize Geeknet (LNUX) shareholder value or is he simply an insecure rogue Wall Street and non-insider shareholder hostile puppet of the wrestlers? This is getting really really old.
In a rather bold move by Scott Kauffman and the Geeknet Board of Directors that would even make the authors of Section 406 of the Sarbanes-Oxley Act of 2002 sweat, it is already too late for Non-insider Geeknet (LNUX) shareholders to submit proposals pursuant to the Annual Meeting being held May 4, 2010
Item 9B. Other Information
The annual meeting of stockholders for 2010 is scheduled to be held on May 4, 2010. Under our bylaws as currently in effect, because we did not hold an annual meeting of stockholders in 2009 as a result of the change in our fiscal year, notices of stockholder proposals must be received no later than the close of business by the 10th day following the date on which public announcement of the date of such meeting is first made in order to be timely. Accordingly, notices of stockholder proposals with respect to the 2010 annual meeting of stockholders must be received by March 8*, 2010 in order to be timely... [emphasis added]
Source: SEC Form 10-K Filed February 26, 2010 and goberhofer, Geeknet, Inc (LNUX) Yahoo Message Boards, March 7, 2010
Note: To exacerbate the significance of this shareholder hostile gesture Geeknet filed this 10-K February 26th, a [Friday] in an arguably deliberate move to minimize the available time a non-insider shareholder would have to prepare and submit their proposal, esp. given the deadline was March 8th, a [Monday]...[only] [one] [week] later.
Join the discussion below, or Read more at secfilings.com.
Since: Jan 09
#1 Mar 11, 2010
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