Acorn International Announces Appointment of Independent Financial Advisor and Legal Counsel to Special Committee
ACORN INTL (ATV)
US:NYSE Investor Relations:
acorninternationalir.com/home/category/press-release
Company Research
Source: PR Newswire
SHANGHAI, Jan. 22, 2020 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a leading marketing and branding company in China, today announced that the special committee of independent directors of the Company's board of directors, consisting of Urs P. Zimmerman, Jenny Hseau-Jean Wang and Eric Haibing Wu (the "Special Committee"), has retained Duff & Phelps, LLC and Duff & Phelps Securities, LLC as its independent financial advisor and Sheppard Mullin Richter & Hampton LLP as its legal counsel. The Special Committee was formed to consider the preliminary non-binding "going private" proposal set out in a November 4, 2019 letter from Mr. Robert W. Roche, Executive Chairman of the Company (the "Proposal").The Board cautions the Company's shareholders and others considering trading in its securities that no decisions have been made with respect to the Company's response to the Proposal. There can be no assurance that any definitive offer will be made, that an
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