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Stock impact report

Ingles Markets Warns Rory Held Would Not Be an Independent Director Due to Undisclosed Conflicting Duties of Loyalty to the Sackler Family

Ingles Markets, Incorporated - Class A (IMKTA) 
Company Research Source: Business Wire
Urges Shareholders to Vote “FOR” ONLY Ingles’ Director Candidates – Rebekah Lowe and Dwight Jacobs – on the WHITE Proxy Card ASHEVILLE, N.C.--(BUSINESS WIRE)--Ingles Markets, Incorporated (NASDAQ: IMKTA) today issued the following statement in response to what the Company believes are misleading claims that Rory Held would serve effectively as an independent director at Ingles Markets:Summer Road’s proxy solicitation materials have claimed that Rory Held would serve as an independent voice in the Ingles boardroom, but that is inconsistent with Mr. Held’s existing fiduciary obligations of loyalty to the Sackler family — obligations that have not been fully disclosed by Summer Road to Ingles shareholders.Mr. Held is far from independent. He is deeply embedded in the Sackler family’s financial and governance structure where he serves as the Trustee of several Trusts established by the Sacklers to hold funds salvaged from the Purdue Pharma bankruptcy. As such, Rory Held has a fiduciary Show less Read more
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